US Court Dismisses Money Laundering Suit Against Dr. Kwesi Nduoum

A US Federal court has dismissed a complaint filed against GN Bank, its Chairman, Dr. Papa Kwesi Nduom, GN Bank’s outside directors, and others by an equity fund and securities investment company based in the US, Birim Group LLC.

Birim had sued Dr. Nduom and 18 others, including his immediate family, over claims of money laundering and wire fraud.

However, the Chicago, Illinois-based court presided over by District Judge, Thomas M. Durkin, dismissed all the charges, one with prejudice.

Birim is a California-based Limited Liability Company, whose sole member was the lawyer who filed the complaint. According to court documents. the lawyer had purchased $30,000 and $52,219 claims against companies in Ghana from two Ghanaian citizens.

Although neither GN Bank, Dr. Nduom nor any of the GN Bank directors were alleged to have themselves taken any action against these Ghanaian citizens, the complaint named each of them as defendants based on reportedly, vague allegations of a vast international conspiracy for which the Court found no supporting facts had been alleged.

According to the court, “the U.S. Defendants characterize the Plaintiff’s complaint as a political smear devoid of actionable allegations,” as part of its dismissal decision adding, “the complaint is adorned with extraneous information, making the allegations difficult to parse into a coherent narrative.”

On April 5, 2021, Groupe Nduom had filed a motion asking for dismissal of the case after Dr. Nduoum had said in his defense that the suit was an attempt to smear him as a Ghanaian entrepreneur and political leader of his party, PPP.

In response to the Tuesday, November 23, 2021, ruling, an elated Dr. Nduom in a Facebook post said: “For I know the plans I have for you, says the Lord, plans to prosper you and not to harm you, plans to give you hope and a future. Jeremiah 29: 11. I am extremely happy to report that the Birim Group Lawsuit filed against me and others in the USA alleging money laundering etc., has been DISMISSED!!!

Thank you, Lord!”

MEANWHILE, Dr. Nduom is still in court with a suit against the Bank of Ghana (BoG) and three others over the revocation of the license of his GN Savings and Loans Company Limited, which has affected his multiple businesses.

The suit, which was filed jointly by Coconut Grove Beach Resort and Conference Centre Limited and Groupe Nduom (GN) Limited, is challenging the decision of the central bank to declare GN Savings and Loans Company insolvent leading to the revocation of its operating license.