In a bold and resolute stand, the Member of Parliament for Ningo-Prampram, Samuel Nartey George has firmly maintained his claims that the real estate business in Ghana is being exploited for money laundering activities. The controversy erupted after Sam George made these assertions during a recent appearance on Accra-based Joy FM’s Newsfile.
Known for his outspokenness on critical issues, Sam George has garnered both support and opposition for his fearless approach to confronting the nation’s challenges. During the Newsfile show, he took the opportunity to shed light on what he perceived as a significant issue within Ghana’s real estate sector.
In response to his statements, the Executive Council of the Ghana Real Estate Developers Association (GREDA) demanded an immediate unqualified apology and retraction from Sam George. However, the MP has refused to back down, stating that his fidelity to the truth, conscience, and the well-being of the Ghanaian people took precedence over appeasing any specific group’s whims.
In a statement issued and dated Wednesday, July 26, 2023, Sam George pointed out that money laundering in the real estate sector is a concern not limited to Ghana alone. He emphasized that serious jurisdictions worldwide have taken measures to address such criminal activities by collaborating with legitimate industry players and authorities.
“It is shocking that an association like GREDA would seek to play the ostrich and display publicly the malaise that bedevils our beautiful Nation – hypocrisy! How GREDA can boldly seek to make the claim that they are unaware of the fact that money laundering is happening in the real estate sector of our Country is shocking and disappointing. This phenomenon is not peculiar to Ghana alone and in serious jurisdictions, legitimate industry players work with State authorities to rid their sector of these criminals.”
Expressing disappointment at GREDA’s apparent reluctance to acknowledge the issue, Sam George accused the association of attempting to suppress any voice that highlights this malaise within their sector. He defended his position, stating that he did not implicate all GREDA members but rather sought to address the problem as a systemic issue affecting the industry.
“Unfortunately, here in Ghana, we are seeing GREDA seek to silence any voice that points out this criminality. In my statement, I said there was money laundering in the real estate sector of Ghana and went ahead to explain what I meant and how it is carried out. I am surprised the GREDA Executive Council is seeking to ascribe the criminal activities to ALL of its members when no such allusion was made by me nor the host who actually introduced the subject of real estate into our conversation. It is akin to me getting offended by the statement that all politicians are thieves when I have never stolen public funds nor have US$1 million stashed in my house or anywhere in the world. That statement cannot apply to me but importantly, it does not make it false as there are some politicians whose wealth cannot be legally explained.”
Meanwhile, GREDA has expressed its intention to explore legal options in response to comments by Sam George.
Undeterred by the backlash, the Ningo-Prampram MP has announced his intention to involve the Office of the Special Prosecutor in the issue. He aims to have the investigative body closely examine certain real estate developments to assess due diligence processes, transactions involving foreign currencies, adherence to tax obligations, and other aspects that may be linked to money laundering activities.
“I am fortified in my belief that my position is one that the majority of Ghanaians agree with and believe in. I encourage GREDA to exercise any legal options available to your good selves as you have indicated in your statement. It may open a vista for a wider investigation into a sector that we may not have looked at closely.”
“I would be inviting the Office of the Special Prosecutor to take a close look at certain developments in the coming days. I believe the Special Prosecutor must look at the due diligence processes your members undertake when selling property to prospective buyers, issues of dollar-denominated transactions against Bank of Ghana regulations, failure to pay VAT and full tax obligations to the GRA and a number of issues that worry the mind of discerning Ghanaians.”
