A group of South Africans swindled a Ghanaian bank, spent $1.4m on Porsche – Bright Simons details

Bright Simons, Honorary Vice President of IMANI Africa, has exposed a $1.4 million fraud involving South Africans and a Ghanaian bank.

A Special Purpose Vehicle (SPV) named “Ghana Infrastructure Company” was set up by Investec to fund projects like roads and clinics.

However, most projects were never completed.

The promoters created fake guarantees using Photoshop and diverted funds for personal luxuries, including a $1.4 million Porsche.

Simons criticized the lack of oversight and called for stronger governance to prevent similar incidents in the future.