The Criminal Investigations Department (CID) of the Ghana Police Service has cleared Sesi-Edem Company Limited and its Chief Executive Officer, who is also a member of the Council of State, of any criminal wrongdoing in relation to a $14.3 million gold transaction under investigation.
The development follows months of scrutiny into a commercial dispute involving gold trading firms, including allegations that funds paid for gold deliveries were not fully accounted for.
According to details emerging from the investigation, the case stemmed from a complaint filed by TAVEST FZCO against JG Resources, alleging that millions of dollars paid for gold supplies were either unaccounted for or linked to incomplete deliveries.
The matter subsequently triggered wider investigations involving multiple companies within the supply chain, including Sesi-Edem.
As part of the probe, the CID invited the leadership of Sesi-Edem Company Limited, including its Chief Executive Officer, to assist with investigations.
The company reportedly provided documentation and statements supporting its role in the transactions under review.
After examining the available evidence, the CID concluded that Sesi-Edem had fulfilled its contractual obligations and that there was no indication of fraud or criminal intent by the company or its executives regarding the disputed transaction.
The findings effectively clear Sesi-Edem and its leadership from wrongdoing in the specific deal under investigation.
However, other aspects of the broader case involving different entities are still believed to be ongoing.
