JG Resources Ltd And Directors Face Possible Imprisonment Over Alleged Defiance Of High Court Order To Preserve Assets Linked To Forged Gold Purchase Agreement
JG Resources Limited and three of its directors, Papa Yaw Owusu-Ankomah, Maame Akosua Asama Kuranchie, and Kwaku Appiah Yeboah, are facing the possibility of imprisonment following contempt proceedings before the High Court (Commercial Division) in Accra.
The proceedings arise from Suit No. GJ-CM/OCC/0181/2026, in which Sesi-Edem Company Limited alleges that JG Resources Limited used its corporate name and the signature of its Managing Director without authorisation in connection with a Sale and Purchase Agreement with Tayvest-FZCO for the purchase of gold dore bars. It is further alleged that the agreement bears a forged signature and stamp, which Sesi-Edem Company Limited reportedly discovered following information received from a journalist. The company subsequently took legal action against JG Resources.
On 19 December 2025, the High Court granted an injunction and preservation order in favour of Sesi-Edem Company Limited. According to filings, the orders directed JG Resources to freeze specified bank accounts, including one held with Access Bank, deposit funds related to the disputed transaction into court, and file a sworn affidavit disclosing all related assets. The order was reportedly served on 22 December 2025.
In support of the contempt proceedings, Sesi-Edem Company Limited filed an affidavit asserting that no funds were deposited into court, no disclosure affidavit was submitted, and no application was made to vary, discharge, or stay the order. A registry search dated 7 January 2026 is cited as confirming the absence of these compliance steps. The applicant contends that the alleged non-compliance occurred while the order remained in force and amounts to wilful disobedience.
Contempt proceedings are designed to uphold the authority of the judiciary. If established, sanctions may include fines or imprisonment. The High Court is scheduled to hear the contempt matter in March 2026, where it will determine whether JG Resources Limited and its directors disregarded the court’s orders and whether committal is warranted.
Separate, but related reporting indicates that Tayvest-FZCO, a Turkish firm, has lodged a formal complaint with the Criminal Investigation Department (CID) of the Ghana Police Service concerning an alleged US$17 million gold transaction that has reportedly drawn accusations of fraud, document manipulation, and conflicting claims of responsibility. The matter is said to have prompted parallel investigations and attracted the attention of national security authorities due to its scale and complexity.
All claims and allegations remain before the courts and investigative authorities, and no final judgments have been issued.
