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The Venture Capital Trust Fund has revealed that its former chief executive officer (CEO), Daniel Duku and two others have begun to repay an amount of ¢ 17.69 million that they allegedly stole from the fund.
Speaking at the Public Accounts Committee (PAC), the current CEO of the Venture Capital Trust Fund, Yaw Owusu Berempong, said that the three have started to pay the amounts after admitting that loans were made on behalf of other companies.
He said that, according to an agreement they had with the State, Duku will reimburse more than ¢ 15 million, while his Executive Assistant, Irene Anti Mensah and the Executive Assistant’s husband, Frank Aboagye Mensah, will both pay more than ¢ 2 million. .
Giving details, Berempong said, “Between 2012 and 2015, 205 loans were made to businesses and about 90 percent of those loans were fraudulently processed and disbursed. And the total capital amount involved was ¢ 14.7 million and interest had been accrued for those loans for an amount of ¢ 42 million.
“For more than two years we worked with EOCO and BNI and the matter was finally taken to court. Six people, Daniel Duku, Richard Larsen, former board member and former Keta MP, Irene Anti Mensah, Frank Aboagye Mensah, Charity Opoku, Accountant and Kofi Sarpong, Investment Officer were indicted.
“Two months ago, three of the six, that is, Mr. Duku and Mr. and Mrs. Mensah decided to submit to Section 35 of the Court Acts [Act 459] which I understand allows them to negotiate a settlement and compensation with the attorney general and plead guilty in court. “
According to him, if they do not pay the full amounts in three months, they will be sent to jail.
