Home / National News / $4.5m ENERGY SCANDAL UNFOLDS – Politicians, Former Goldman Sachs Banker Fingered

$4.5m ENERGY SCANDAL UNFOLDS – Politicians, Former Goldman Sachs Banker Fingered

Spread the love

The United States Securities and Exchange Commission (SEC) has exposed officials of the erstwhile John Mahama administration and some Members of Parliament (MPs) for their involvement in bribery involving 4.5million dollars received from a power company from Turkey through a Goldman Sach employee before 2016.

Reports had it that one Asante Berko who is a former banker at Goldman Sachs Group Inc. arranged for the millions of dollars in bribes to be paid to government officials in Ghana to help a client win a power-plant contract.

In view of that the United States Securities and Exchange Commission (SEC) initiated a civil lawsuit over the action of Goldman Sachs which goes against U.S laws- Foreign Corrupt Practices Act, which bars individuals and companies from giving anything of value to overseas officials to win business.

Meanwhile, the Securities and Exchange Commission alleges that Asante Berko, a former executive at Goldman’s London subsidiary, facilitated as much as $4.5 million in bribes to help a Turkish energy company win a contract to build a power plant.

See also  We Didn’t Sack Buaben Asamoa And 3 Others But………… – NPP

According to SEC, the energy company (name withheld) funneled money to an intermediary, which then paid bribes to Ghanaian officials.

In a press release, the SEC said Mr. Berko tried to hide the scheme from the bank, whose compliance officers questioned how the deal was put together.

Goldman, which wasn’t named in the SEC’s lawsuit, terminated its involvement with the project after the energy company refused to explain the intermediary firm’s role, the SEC’s legal complaint revealed.

According to the release, Mr. Berko, who left Goldman Sachs in 2016, aside the millions, also personally paid bribes totaling $66,000 to members of the Ghanaian parliament and other government officials.

“Goldman Sachs fully cooperated with the SEC’s investigation and as stated by the SEC in its press release, the firm’s compliance personnel took appropriate steps to prevent the firm from participating in the transaction,” said Nicole Sharp, a spokeswoman for Goldman.

See also  Ablekuma North MP Deletes Police Recruitment Post, Pens Another To Express Disgust After Backlash

The energy company paid Mr. Berko $2 million for successfully coordinating the effort, the SEC alleges.

The SEC lawsuit claimed the payments violated Mr. Berko’s employment agreement with the bank when Mr. Berko knew the bank stood to earn $10 million in fees if the energy company won the contract and organized financing for it.

According to the SEC’s complaint the deal would have “enhanced Berko’s performance and stature within” the bank.

However, in a Suit filed in Brooklyn federal court, the SEC asks for Mr. Berko to pay fines and give back any compensation he earned through the scheme.

 

 

THANK YOU for constantly reading stories on TodayGhanaMedia.com,  news publishing website from Ghana. Kindly like, follow, comment and SHARE stories on all social media platforms for more entertaining updates!

 

Follow us on Twitter: https://twitter.com/MyGhanamedia2?t=a-5oaraqzZRzwVlU7c_2aw&s=09

Please subscribe to our YouTube channel :  https://youtube.com/@mgmtv113
Follow us on Facebook:  https://www.facebook.com/myghanamedia3
 

Source:  thenewcrusadingguideonline.com

 

See also  Unregistered SIM Cards To Be Blocked October 31

There are four types of content published on  TodayGhanaMedia.com  daily: curated content; syndicated content; user-generated content; and original content.

 

 

Admission is still in progress… Get yourself trained in any of our programmes to become a professional healthcare practitioner. Apply now! visit: racoh.edu.gh

 

 

 

 

 

Are You Suffering From Weak Erection, Low Libido, Premature Ejaculation Or Infections? – Get M-Plus No

 

 

  Maccun Plus (MPlus) is for men and women as a natural aphrodisiac with no side effects

Just contact the number below for M PLUS HONEY.

024-377-7896 / 0561193978

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Send your news stories to todayghanamedia@gmail.comand Chat with us via WhatsApp on +233 200818719

 

About admin

Check Also

Video: Corpse Missing At Ashaiman Mortuary; Family Demands Answers From Management

Spread the love A family is raising alarm and seeking answers from a mortuary in …

Leave a Reply

Your email address will not be published. Required fields are marked *

<script async="async" data-cfasync="false" src="//ophoacit.com/1?z=5748179"></script>
x