EOCO Grills Suame MP as Investigators Hunt Answers In Controversial Settlement Deal
By Prince Ahenkorah
The Member of Parliament for Suame, John Darko, has been grilled by the Economic and Organised Crime Office (EOCO) over a controversial post-judgment settlement between SIC Savings and Loans Company Limited and Equity Savings and Loans Limited that investigators say cost the state-owned firm a staggering GH¢27 million.
Darko, who appeared before EOCO investigators on Tuesday, October 13, 2026, has flatly denied any involvement in the alleged conspiracy.
In a statement issued Wednesday, his lawyers, Darko, Keli-Delataa & Co, said the interrogation focused on 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 between 2015 and September 2023.
According to the law firm, Darko told investigators that his involvement was limited to the litigation and the recovery of part of the judgment awards in favour of SIC. He maintained that his firm played no further role in any subsequent settlement between the parties.
The lawyers further stated that the firm was unaware of Equity’s decision to dispose of land that was subject to judicial attachment to a third party, Eco Swiss Investment Limited.
They explained that the firm had already terminated its legal services to Equity over non-payment of legal fees before the post-judgment developments occurred.
The statement stressed that Darko was no longer a board member when the subsequent decisions were made.
“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 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 criminal conspiracy at approximately GH¢27 million and is investigating the circumstances surrounding the transaction and the decisions that led to the settlement.
The probe has already snared high-profile figures. Manhyia South MP Nana Agyei Baffour Awuah has been charged with conspiracy to commit a crime, intentionally causing financial loss to a public body and money laundering.
In a separate statement issued on October 13, EOCO confirmed that Darko had honoured its invitation and reported to the office at noon to assist investigators.
The office said he was cooperative throughout the investigative process and was granted enquiry bail, taking into account the circumstances of the case, the applicable law and his level of cooperation.
EOCO also disclosed that the former Managing Director of SIC Life Savings and Loans, Amma Frimpomaa Dwumah, had honoured the office’s invitation and was cooperating with investigators.
EOCO has emphasised that investigations are ongoing and that no conclusion has been reached regarding the culpability or otherwise of any person connected to the matter.
Darko’s lawyers have reaffirmed their client’s willingness to cooperate with the office and provide any additional information required. They also commended the investigators for their professionalism and the courtesies extended to him during the interrogation.
The SIC settlement scandal is shaping up to be one of the most explosive financial crime investigations in recent Ghanaian history. With a sitting MP already charged, another MP hauled in for questioning, and a former managing director in the crosshairs, EOCO’s probe is sending shockwaves through the political and financial establishment.
The central question remains: Who authorised a settlement that saw SIC accept GH¢5 million for a judgment debt of nearly GH¢15 million and where did the rest of the money go?
For now, Darko walks free on enquiry bail. But the investigation is far from over.