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No criminality in Kosmos/EO Group deal – Kweku Baako

The Editor-in-Chief of the New Crusading Guide, Abdul Malik Kweku Baako, has revealed that there is no illegality in the way the Kosmos/EO Group stake in Ghana’s jubilee fields was acquired.

He said the companies adhered to all substantive laws of the country in acquiring the stake in the jubilee fields, according to his investigations.

Mr Baako noted that government’s investigations did not produce any evidence to support its allegations of "causing financial loss to the state and money laundering and that the Attorney General (AG) is now focusing on alleged false declaration to public agencies.

Speaking on Metro TV’s Good Morning Ghana programme Thursday, Mr Baako who was explaining a publication in his newspaper on the subject said "they are claiming that George Owusu signed the signature of Dr Bawuah-Adusei when he was registering the company.They claim that he has confessed to forging the signature – which is false declaration to public agencies – But I have cited an affidavit subscribed and sworn by Dr Bawuah-Adusei to a commissioner.in the State of Virginia to take steps to form a company called EO Group Ltd. And to do all these including signing signatures to make the registration possible. So what are you going to talk about? Forgery?"

Though, AG Betty Mould-Iddrisu says the government’s investigations into fraud allegations against these key partners in the Jubilee Oil Fields is not political witch-hunting, the editor-in-chief said "that just tells you there is a motive," adding that they have comprehensively investigated the issue to come out with convicting evidence against people they believe were somehow involved with the past government.

He added that this whole drama about the Kosmos/EO Group stake in the jubilee fields seeks to reduce the value of the companies’ stake, criminalize the group and its transactions in Ghana, thereby serving as a disincentive for major players wishing to buy the stake and ultimately create an environment that provides the opportunity for the government to get the stake far less than the $4billion it is worth since there is no alternative.

http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=175165

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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