Three convicted ex-officials of Venture Capital Trust Fund refund GH¢1.8m

The former Chief Executive Officer (CEO) of Venture Capital Trust Fund (VCTF), Daniel Duku, and two former staff of the Fund have begun refunding embezzled monies.

The three were convicted for embezzlement by an Accra High Court.

Per the agreement, Mr Duku and Irene Anti Mensah as well as her husband Frank Aboagye Mensah are to pay a total of GH¢18,544,802.13 to the state as refund, restitution and a fine by the court.

Daniel Duku is the former CEO of Venture Capital Trust Fund

Speaking at the Public Accounts Committee (PAC) hearing in Parliament on Wednesday, September 2, the current CEO of the Venture Capital Trust Fund, Yaw Owusu Berempong, revealed that the three have started refunding to the Fund.

He said: “For over two years, we worked with both EOCO and BNI and the matter was eventually taken to court.

“Six people were charged, Daniel Duku former CEO, Richard Larsey, former Board member and former MP for Keta, Irene Anti Mensah, PA to the CEO who later became an investment officer, Frank Aboagye who happened to be the husband of Irene Anti Mensah, Charity Opoku the accountant, and Kofi Sarpong who was also an investment officer.

“Two months ago, three out of the six, Daniel Duku, Irene Anti-Mensah  and the husband Frank Aboagye decided to go under the Section 35 of the Court’s Act (ACT 459) which allows them to negotiate settlements and compensation with the AG and then plead guilty at Court and the only thing that is avoidable under the Section 35 is custodial sentences.

“They have three months to refund those monies and failure to do that they will go back to court and they will be sentenced because they have already pleaded guilty. The other three will appear before court in October 2020.

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“As I speak, Daniel Duku has already refunded GHS1,145,000 to Venture Capital, Irene Anti has refunded GH¢500,000 out of the GH¢1.5m and then Frank Aboagye Mensah  GH¢170,000 out of the GH¢1.1m and so for the past two months the total amounts that we have received is GHS1,805,000.”

By Laud Nartey||Ghana


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