FIC Probes McDan Group Over Suspected Money Laundering
FIC Probes McDan Group Over Suspected Money Laundering
The Financial Intelligence Centre (FIC) of Ghana has initiated an investigation into McDan Group, a prominent conglomerate owned by Dr. Daniel McKorley, over alleged money laundering activities.
In a confidential letter dated April 22, 2025, the FIC requested comprehensive financial records from the company, covering the period between January 2020 and December 2024. The requested documents include all electronic fund transfers, copies of cheques issued to third parties, and details of the financial institutions used for these transactions
The FIC’s request is made under Sections 36 and 37 of the Anti-Money Laundering Act, 2020 (Act 1044), which mandates entities to provide such information when suspected of involvement in money laundering activities. The Centre has given McDan Group a seven-day deadline to comply with the request .
This investigation is part of a broader effort by the FIC to combat financial misconduct in Ghana. Earlier this year, the Centre froze the bank accounts of Bernard Antwi Boasiako, also known as Chairman Wontumi, and his mining firm, Akonta Mining, under similar suspicions of financial irregularities .
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As of now, McDan Group has not publicly commented on the investigation. The outcome of this probe could have significant implications for the company’s operations and Ghana’s ongoing efforts to enhance financial transparency and combat money laundering.
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Source: GhanaWeb.com
