A Turkish firm, Tayvest-FZCO, has petitioned the Criminal Investigations Department (CID) of the Ghana Police Service following the collapse of a US$17 million gold transaction, triggering allegations of fraud, document manipulation and conflicting claims of victimhood.
Sources familiar with the matter say the complaint was filed before Christmas last year and relates to funds paid for a substantial consignment of gold intended for export to Dubai, United Arab Emirates.
Named in the petition are JG Resources Limited, its Chief Executive Officer Kwaku Appiah Yeboah, and director Papa Yaw Owusu-Ankomah. Also mentioned is Kuranchie Maame Akosua Asama, a woman alleged to have played a dual role in the transaction.
Company documents sighted indicate that JG Resources Limited was incorporated on 7 April 2025 and received the full US$17 million payment from Tayvest-FZCO barely two months after registration, a timeline investigators say has raised serious red flags.
While some quantity of gold was reportedly delivered, police sources say it fell significantly short of what was paid for. Repeated attempts by Tayvest-FZCO to recover the outstanding gold or secure a refund are said to have failed.
Investigators are also examining claims that questionable or forged documents were used to misrepresent the transaction, complicating the probe and heightening concerns within law enforcement circles.
The case has since attracted the attention of multiple state agencies, including the Economic and Organised Crime Office (EOCO), with aspects of the dispute already before the courts as further legal action looms.
JG Resources Directors Claim Victimhood as EOCO, CID Probe Alleged Fake Documents in $17m Tayvest-FZCO Gold Transaction
Directors of JG Resources Limited, including Kwaku Appiah Yeboah and Papa Yaw Owusu-Ankomah, are facing intensified scrutiny after investigations into a US$17 million gold deal with Turkish firm Tayvest-FZCO uncovered alleged discrepancies and suspicious documentation.
Police and security sources say the matter has become highly contentious, with JG Resources and its principals reportedly presenting themselves to the Turkish firm as victims of fraud and money laundering—claims investigators say are at odds with available documentary evidence.
According to the complaint lodged at the CID, Tayvest-FZCO transferred the funds through Access Bank Ghana for the supply of gold meant for export. Although some gold was delivered, investigators say the quantity did not correspond with the amount paid, raising suspicions beyond a mere commercial dispute.
The case has reportedly been complicated by the circulation of allegedly fake documents, which authorities believe may have been deployed to obscure the true flow of funds and misrepresent the nature of the transaction.
Sources say the involvement of Kuranchie Maame Akosua Asama, who previously worked with the Turkish firm on a project in Kumasi but is also linked to JG Resources, has further deepened investigative interest.
Beyond law enforcement, The Herald has learnt that Tayvest-FZCO has engaged National Security in efforts to retrieve the funds, underscoring the scale and sensitivity of the dispute.
With EOCO, the CID, and the courts now seized with different aspects of the case, investigators say a forensic audit of the entire transaction remains a key demand as parties battle over responsibility and liability.
