Business News of Monday, 13 June 2022
Source: www.ghanaweb.live
2022-06-13FLASHBACK: Ghana no longer safe for business – US Investor
James Barbieri, CEO, Green Global Resources
In 2017, US-licensed gold buying firm Green Global Resources was at the center of a $1.3million gold scandal.
According to the CEO of the firm, police in Ghana were not helping them to get the justice they needed.
He however painted a gloomy picture of Ghana to investors.
For him, the police had adopted a lukewarm
Read full articleapproach because most of its high ranking officials were involved in the scam.
“In this situation, a lot of senior police officials and some other junior ranking officials, some including BNI officers, were allegedly protecting the scammers.
“Unfortunately the country of Ghana is the real loser here because your security services are apparently corrupt and cheat potential investors and drive this potential investor away by protecting the scammers and these police corrupt officials.”
Read the full story originally published on June 13, 2017 by Starrfm
The CEO of US-licensed gold buying firm Green Global Resources has painted a gloomy picture about Ghana to potential investors.
James Barbieri, whose company is at the center of a $1.3 million gold scandal, said he has lost confidence in the police service as they are being denied justice in the case.
Speaking to Starr Business after a media briefing Tuesday, Mr. Barbieri alleged the police are involved in a cover-up, increasing his fear to expand investment in the West African country.
In March this year five policemen, including the East Legon District Police Commander, DSP Emmanuel Basintale were arrested in connection with a number of alleged fraudulent gold deals running into several millions of Ghana cedis.
DSP Basintale, who is currently on interdiction, is alleged to have led a group of officers to defraud Green Global Resources Company Limited under the pretext of selling 13 gold bars to the company.
Mr. Barbieri stressed “it really appears everybody was knowledgeable and nobody wants to address this situation. Right now we are out of significant amount of money and we don’t have confidence that this is a safe environment to operate.”
For him, the police has adopted a lukewarm approach because most of its high ranking officials are involved in the scam.
“In this situation, a lot of senior police officials and some other junior ranking officials, some including BNI officers, were allegedly protecting the scammers.
“Unfortunately the country of Ghana is the real loser here because your security services are apparently corrupt and cheat potential investors and drive this potential investor away by protecting the scammers and these police corrupt officials.”
“It must be stated categorically that, the 13 boxes of gold that was confiscated have still not been returned to Green Global Resources Ltd. and we believe it is in the possession of the Police Service. We are therefore calling on the President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo; Mr. David Asante Apeatu, Inspector General of Police and Mr. Bright Oduro, Director-General of the CID, to act on the information provided above to act upon to retrieve our money or the bars of gold are given to us,” Barbieri opined.
