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General News | Oct 28, 2004

Fraudulent Ghanair Loans - NDC Men Accused

CRUSADING GUIDE
2 QUALITY GRAIN CONVICTS, KWAME PEPRAH AND GEORGE YANKEY ARE SUSPECTS!
Former Minister for Finance, Mr Kwame Peprah and Mr George Sipa-Adjah Yankey, former Director of Legal Affairs at the Ministry of Finance are strongly suspected to have facilitated a Government Support Agreement (GSA) contract between Ghana Airways (Ghanair) and KBC Bank N.V. on March 8, 2001 although both men were not at post then as there had been a change of Government.
In its efforts to ascertain the authencity of the contract, involving a loan of $50 million, “Crusading Guide” discovered that in 1997 Ghana Airways, under former Chief Executive Officer, E.L. Quartey Jnr, entered into an agreement to take a loan from KBC for repayment.
As the two persons who signed the loan agreement were not in office in March 2001 but allegedly posed as Government Officials, the document was described by a source at the Ministry of Finance and Economic Planning as “a forgery”.
Meanwhile, further investigations have disclosed that Mr Kwame Peprah and George Yankey would soon be invited by the police for questioning over their roles they played in contracting the loan, although they were not in Government then.


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