…As Turkish Firm files petition at CID against Ghana Company
The Herald has gathered that a Turkish company, Tayvest-FZCO, has lodged a formal complaint with the Criminal Investigations Department (CID) of the Ghana Police Service, regarding an alleged US$17 million gold transaction that has collapsed amid accusations of fraud, document manipulation and conflicting claims of victimhood.
According to information available to this newspaper, the complaint was filed sometime before Christmas last year and centres on funds paid for a large consignment of gold meant for export to Dubai in the United Arab Emirates (UAE).
The complaint names JG Resources Limited and its directors, Kwaku Appiah Yeboah, the company’s Chief Executive Officer, and Papa Yaw Owusu-Ankomah.
A woman identified as Kuranchie Maame Akosua Asama is also mentioned, but said to have played a dual role. She is on record as having worked closely with the Turkish firm on a project in Kumasi prior to the disputed transaction, but has also been linked to JG Resources Limited.
Company records sighted by The Herald indicate that JG Resources Limited was incorporated on 7 April 2025. Barely two months after its registration, the company received the full US$17 million payment from Tayvest-FZCO for the supply of gold, a timeline that has raised red flags among investigators.
Police and security sources say the case has since become highly contentious, particularly amid attempts by JG Resources Limited and its principals to present themselves to the Turkish company as victims of fraud and money laundering.
These claims, however, are at odds with documentary evidence indicating significant discrepancies between the quantity of gold supplied and the amount paid.
Investigators are also examining allegations that questionable or forged documents have been deployed in an apparent effort to misrepresent the true nature of the transaction and the flow of funds. These alleged documents are said to have complicated the probe and unsettled several interests connected to the deal.
The matter has triggered parallel investigations by multiple state agencies, including the Economic and Organised Crime Office (EOCO). Portions of the dispute have already found their way to court, while sources indicate that further legal action is being prepared as the parties battle over responsibility and liability.
Beyond law enforcement, The Herald has learnt that representatives of Tayvest-FZCO have also engaged Ghana’s National Security apparatus in a bid to retrieve the funds, underscoring the scale and sensitivity of the dispute.
According to the CID complaint, Tayvest-FZCO transferred the US$17 million to JG Resources Limited for the supply of gold, with the funds reportedly received and withdrawn through Access Bank Ghana. While some quantity of gold was eventually delivered, police sources told The Herald that it fell far short of what was paid for.
Repeated efforts by the Turkish firm to obtain the outstanding quantity of gold or secure a refund are said to have failed, fuelling suspicions of a deliberate scheme rather than a commercial misunderstanding.
The Herald has further picked up information suggesting that allegedly fake documents linked to the transaction are circulating, a development that has heightened concerns within law enforcement circles and strengthened calls for a forensic audit of the deal.
The Herald will continue to track developments in this case as more details on all persons named, the institutions, and their roles in the ongoing investigations emerge.
