The Economic and Organized Crime Office (EOCO) has frozen assets of Nii Kotei Dzani, a Member of the Council of State and Director of defunct Ideal Finance.
Citi News gathers that among the reasons for the freeze of the assets is to find a way of retrieving funds from him to pay back customers whose funds are locked up with the defunct Ideal Finance.
Reports say the funds are in excess of GHS 700 million.
Citi News’ Sixtus Dong Ullo reported that EOCO, upon a referral from the Receiver for Ideal Finance, invited Nii Kotei Dzani for questioning on 3 allegations; GHc 23m paid to a client, 200 acres of land he allegedly stole from Ideal Finance, and unlawful use of Ideal Finance’s funds to build “Camp Tsaetse.”
Kotei Dzani arrest
Nii Kotei Dzani was arrested late last year for stealing, but was granted bail after a caution statement was taken from him.
Nii Kotei subsequently filed processes at the High Court seeking to stop EOCO from investigating him or assessing and freezing his assets.
He averred that EOCO was harassing and intimidating him, and the processes were a calculated attempt to tarnish his reputation.
His argument was that EOCO did not have the jurisdiction to investigate him and that the Receiver of his financial institution should have referred the matter to the Bank of Ghana instead.
He said the Receiver and EOCO trampled on his human rights and his right to the presumption of innocence by parading him as a criminal and publishing to that effect.
Adding that, as a Member of the Council of State and as a renowned Businessman, he should not be paraded as such.
But the court dismissed his claims, indicating that EOCO did not act in excess or breach of its authority.
It also found that Mr. Dzani’s membership of the Council of State is of no consequence to an investigation and freezing of assets.
The judgement means that EOCO can proceed to conduct a full-scale investigation on Nii Kotei Dzani.
Meanwhile, Nii Kotei Dzani has immediately filed an appeal against the court’s ruling. The move is to ensure that the decision by the court is set aside.