Manhyia South MP Nana Agyei Baffour Awuah has pleaded not guilty to three criminal charges linked to an alleged GHS 9.85 million loss to state-owned SIC Life Savings and Loans Company Limited.
The charges were filed at the High Court in Accra on October 3 by the Attorney-General's office after an investigation by the Economic and Organised Crime Office (EOCO), according to Citi Newsroom and 3News. They are conspiracy to commit a crime through the intentional dissipation of public funds, intentionally causing financial loss to a public body, and money laundering. The court granted him bail of GHS 10 million with two sureties and ordered him to deposit his passport.
Prosecutors allege that SIC Life hired the MP's law firm in 2020 to recover a GHS 6.3 million debt from Equity Savings and Loans. By May 2024 the judgment debt had risen to GHS 14.85 million. Under terms of settlement signed in July 2024, SIC Life accepted GHS 5 million. The prosecution says the deal was made without approval from the company's board, its shareholders or the Ministry of Finance.
The prosecution also alleges that in November 2024 the MP issued a GHS 1 million cheque to the then managing director of SIC Life. That payment forms the basis of the money laundering count.
His lawyer, Samuel Atta Akyea, told the court the matter arose from legal work done by the MP's former law firm to recover money owed to SIC Life. The defence disputes that the GHS 9.85 million was a loss. Baffour Awuah surrendered to EOCO on October 1 after the High Court authorised a warrant for his arrest.
The case returns to court on October 26. The prosecution has been directed to file its disclosures by October 22, ahead of a case management conference on November 2.