Suame MP John Darko denies role in alleged GH¢27m SIC Savings and Loans loss

The Member of Parliament for Suame, John Darko, has denied involvement in any alleged scheme to deprive SIC Savings and Loans Company Limited of funds awarded by a court, following his interrogation by the Economic and Organised Crime Office (EOCO).

Mr Darko, who was invited to assist with investigations into an alleged criminal conspiracy involving SIC and Equity Savings and Loans, met EOCO investigators on Tuesday, October 13.

The investigations concern a revised estimated financial loss of about GH¢27 million to SIC, according to the anti-graft agency.

In a statement issued through his lawyers on Wednesday, Darko, Keli-Delataa Company, Mr Darko said his involvement in the matter was limited to his role as legal counsel for Equity during its litigation with SIC and his membership of Equity’s board from 2015 to 2023.

The law firm said it had no involvement in any post-litigation settlement between the two financial institutions and was unaware of a decision by Equity to dispose of land that had been attached by a court and was subsequently transferred to a third party, ECOSWISS.

“Our client assured EOCO that beyond our firm's involvement in the litigation and the recovery of part of the judgment awards to the SIC, it played no further part in any post-litigation settlement between the parties,” the statement read in part.

The lawyers further disclosed that the firm had ended its legal services to Equity over non-payment of legal fees before the post-judgment developments occurred.

They also maintained that Mr Darko had ceased to be a member of Equity’s board by September 2023 and did not participate in any decision to compromise a court judgment against the interests of SIC.

The MP’s response follows an EOCO statement confirming that he honoured an invitation to assist with the investigation and was granted enquiry bail after cooperating with investigators.

EOCO said former SIC Life Savings and Loans Managing Director Amma Frimpomaa Dwumah had also honoured the agency’s invitation and was cooperating with investigators.