Suame Member of Parliament John Darko has denied any involvement in a post-judgment settlement between SIC Savings and Loans Company Limited and Equity Savings and Loans Limited that allegedly resulted in financial losses to SIC.
The denial follows his appearance before investigators of the Economic and Organised Crime Office (EOCO) on Tuesday, October 13, to assist with ongoing investigations into the matter.
In a statement dated Wednesday, October 14, his lawyers, Darko, Keli-Delataa & Co, said investigators questioned him about his role as legal counsel for Equity during its litigation with SIC over a matured but unpaid investment, as well as his membership of Equity’s board from 2015 to 2023.
According to the law firm, Mr Darko told investigators that his legal involvement was limited to the litigation and the recovery of part of the judgment awards in favour of SIC. It maintained that he and his firm had no further role in any subsequent settlement between the parties.
Lawyers distance Darko from settlement
The statement said the law firm was unaware of Equity’s decision to dispose of land subject to a judicial attachment to a third party, Eco Swiss Investment Limited.
It added that the firm had terminated its legal services to Equity over unpaid fees before the post-judgment developments occurred.
“Our client had ceased to be a board member of Equity by September 2023 and was certainly not a participant in any decision to compromise a court judgment in a conspiratorial scheme to deny SIC the benefits of its judicial awards,” the statement said.
The lawyers maintained that Mr Darko was not involved in any decision to compromise the judgment debt and had no part in a scheme to deprive SIC of the benefits of its court awards.
Background to the EOCO investigation
The clarification comes as EOCO investigates an alleged criminal conspiracy involving SIC Savings and Loans.
The case centres on a July 2024 settlement involving SIC, Equity and Eco Swiss Investment Limited, under which SIC reportedly agreed to accept GH¢5 million in full and final settlement of a revised judgment debt of GH¢14.85 million.
EOCO has estimated the financial loss arising from the alleged conspiracy at approximately GH¢27 million.
The investigation has also involved Manhyia South MP Nana Agyei Baffour Awuah, who has been charged with conspiracy to commit a crime, intentionally causing financial loss to a public body and money laundering.
The allegations remain subject to the relevant legal processes, and the investigation is expected to establish the circumstances surrounding the settlement and any potential wrongdoing.
Darko pledges cooperation with investigators
Mr Darko’s lawyers said their client remained committed to the investigation and was prepared to provide any further assistance required by EOCO.
They also commended the investigators for their professionalism and the courtesies extended to him during the interrogation.
The firm insisted that Mr Darko and his legal practice had acted ethically and professionally throughout their engagement with Equity, adding that their conduct had consistently been guided by the principles of professional responsibility.
