What Is the GRA’s Role in the Alleged Fake Bank Guarantee from Timo Ventures?

An Anti-Corruption Pressure Group – Movement for Truth and Accountability has at a press conference, demanded the immediate arrest of managers of Timo Ventures, for issuing a fake bank guarantee to clear his goods.

The question is, what due diligence did the GRA do as far as the fake bank guarantee is concerned before approving the clearance of the goods.

If indeed, per what Movement for Truth and Accountability is alleging really happened, then it is becoming obvious that, some GRA personnel are behind the Timo Ventures deal which goes to vindicate Mr. Ibrahim Mahama, the brother of former President John Dramani Mahama whose cheque even went through while that of Timo Ventures is allegedly said to be fake.

The question again is, does it mean that there is a powerful force behind Timo Ventures that is why the fake cheque was presented to the extent that, the company was not even saving with the bank. Why is it also that close to one year now nothing have been done to retrieve the money from Timo Ventures?.

The former GRA Customs Division Boss, Alhaji Seidu in an interview on phone confirmed the arrest of some goods in Kumasi by the monitoring team, where the goods belongs to Timo Ventures because they cleared it.

Liabilities he mentioned, was realised from the arrest and the company applied to pay with a Post Dated cheque adding that, normally when such thing happens, they referred it to the legal department to follow up to make sure that everything is genuine but no one knows what happened after sending it to the legal department.

“So, if you are claiming that the cheque was fake, then I think that appropriate place should be at the legal department because, it was referred to the legal department and from there it goes to the accounts and they are to go through all the cheques to make sure that everything is in order before they give any authorisation”.

Addressing the press, the Convener for Movement for Truth and Accountability, Mr. Joseph Bediako disclosed that, on May 2023, Timo Ventures company declared compressors but rather imported mackerels (2 containers), and paid GHC32,000 for each, totaling GHC64,000.

“After clearing the goods, GRA Tax Force intercepted the 2 containers in Kumasi, Ashanti Region and Timo Ventures was asked to pay a sum of 1.6 million Ghana Cedis including penalties”.

According to Mr. Joseph Bediako, Timo Ventures was to pay short collection plus 300% penalty of Gh¢1,464,118.20p in July 2023 of the result of their offense.

However, Timo Star Ventures paid Gh¢200,000.00 at Absa Bank Headquarters in July 2023 in addition to the payment saying, one Victor Hughes, a representative from Timo Ventures presented the bank guarantee from Stanbic Bank to the then Commissioner of Customs Division Alhaji Seidu.

“Alhaji Seidu referred the bank guarantee to the legal department to verify the authenticity of the bank guarantee on that day. Upon the payment of the first installment of Gh¢200,000.00 and base on the legal department recommendation the goods were release to the importer yet the outstanding installment of Gh¢1,264,118.20 have not been recovered till date”.

He explained that after GRA have gone to the bank to verify, they were told that the bank guarantee which was issued by Timo Ventures was fake and that, Timo Ventures does not have account with them.

“We as a movement know very well that somebody took something from Timo Ventures that is why the bank guarantee was not verified before releasing the goods and the GRA officials know where Timo Ventures office is, at Tema community 2, near the Police Station. But they have refused to go and arrest him. We as a movement think this is clearly conspiracy to steal, and share the money with Timo Ventures”.

The Movement for Truth and Accountability is therefore, given GRA two weeks ultimatum to arrest Timo Ventures and failure to effect arrest and collect monies that belongs to the State, they would be forced to go to court and let the court compel GRA to arrest Timo Ventures.

“We also know for a fact that the one who authorized the release of the goods was given something. If not, why did they not check the authenticity of the Bank Guarantee before releasing the seized goods”.

Source: dailydemocratonline.com