Three directors of JG Resources Limited are facing the real prospect of jail time as contempt proceedings intensify over their alleged roles in a controversial US$17 million gold transaction currently before the High Court.
Those cited in the proceedings are Papa Yaw Owusu-Ankomah, son of a former Attorney-General and ex-UK High Commissioner, together with fellow directors Maame Akosua Asama Kuranchie and Kwaku Appiah Yeboah.
High Court Date Set
The directors are expected to appear before the High Court (Commercial Division), Accra on 5 March 2026, following allegations that they wilfully disobeyed court orders issued in an ongoing commercial dispute.
The contempt proceedings stem from Suit No. GJ-CM/OCC/0181/2026, filed by Sesi-Edem Company Limited, a registered gold dealer.
Allegations of Forgery and Identity Misuse
According to court documents, Sesi-Edem alleges that JG Resources unlawfully used its corporate name, stamp, and the signature of its Managing Director in a Sale and Purchase Agreement with Tayvest-FZCO for the supply of gold dore bars.
The agreement allegedly contained forged signatures and stamps, a discovery Sesi-Edem says it made after receiving information from a journalist, Kay Cudjoe. The company subsequently initiated legal action, claiming reputational and financial exposure from the transaction.
Court Orders Allegedly Ignored
On 19 December 2025, the Commercial Division of the High Court granted an injunction and preservation order in favour of Sesi-Edem Company Limited.
The orders, issued by Justice Doris Awuah-Dabanka-Bekoe, reportedly directed JG Resources to:
- Freeze specific bank accounts, including one held at Access Bank
- Deposit all funds linked to the disputed transaction into the court
- File an affidavit disclosing all assets connected to the transaction
Court records indicate the order was served on 22 December 2025.
Contempt Proceedings
In an affidavit supporting the contempt application, Sesi-Edem Company Limited contends that:
- No funds were deposited into the court
- No disclosure affidavit was filed
- No application was made to vary, discharge, or stay the court order
A registry search dated 7 January 2026 is cited as confirmation that the directives were allegedly ignored while the orders remained valid and binding.
The applicant argues that this conduct amounts to wilful disobedience of a court order, a serious offence that could attract custodial sentences if proven.
High-Stakes Legal Battle
The case has drawn public attention not only because of the size of the disputed sum, but also due to the high-profile nature of those involved and the broader implications for corporate governance and gold trade regulation in Ghana.
As the March court date approaches, all eyes are on the Commercial Division of the High Court, where the outcome could set a significant precedent on compliance, accountability, and contempt in commercial litigation.
Investigations and court processes are ongoing.
Source: paqmediagh/Peter Quao Adattor
