The Government of Ghana has formally initiated extradition proceedings against former Finance Minister Kn Ofori-Atta and his associate, Ernest Darko Akori, while the Economic and Organised Crime Office (EOCO) has recovered US$15.19 million in a groundbreaking cryptocurrency fraud investigation, the Attorney-General has announced.
Addressing a press conference in Accra, the Attorney-General disclosed that his office has transmitted a completed extradition request to the United States Department of Justice following investigations by the Office of the Special Prosecutor (OSP).
According to him, the OSP filed charges against Ofori-Atta and his accomplices after investigations into alleged corruption and corruption-related offences.
On November 19, 2025, the Attorney-General’s office received a formal request from the OSP to commence extradition proceedings from the United States.
He said the request was reviewed and returned for clarification and enhancement on November 25, before being finalised on December 9.
The complete extradition package was transmitted to the Minister of Foreign Affairs on December 10 for onward submission to U.S. authorities.
“There are 78 charges against the former Finance Minister and his accomplices,” the Attorney-General said, adding that the matters are already before the courts and he was therefore constrained from commenting further on the substance of the charges.
He stressed that the extradition decision now rests solely with the judicial authorities in the United States.
The Attorney-General also announced what he described as a historic recovery of proceeds of crime by EOCO following a complex investigation into an international online investment fraud scheme.
The investigation revealed that a criminal network made up largely of Chinese and Malaysian nationals established a Ghanaian company in 2019 to front a fraudulent e-commerce and online investment operation that targeted Ghanaian and British citizens.
Victims were induced to pay registration fees and invest in tiered packages ranging from GH₵770 to GH₵9,240, marketed as online trading and e-commerce opportunities under a VIP structure.
Payments were made through mobile money, cash and cryptocurrencies including Bitcoin, USDT and Ethereum.
EOCO traced the laundered funds using advanced blockchain forensic tools and identified crypto wallets hosted on the offshore exchange OKX in Seychelles.
Investigators froze the wallets after obtaining Know-Your-Customer information linking them to a Chinese national working in Ghana.
After securing a High Court order on May 27, 2025, EOCO compelled the transfer of the frozen crypto assets to Zodiac Custody, a UK-based virtual asset custodian, for conversion into fiat currency.
On November 19, 2025, Zodiac Custody paid US$15,191,730.13 into EOCO’s Exhibit Account, marking one of the largest cryptocurrency recoveries ever achieved by a Ghanaian law enforcement agency.
The court further ordered that part of the recovered funds be used to compensate victims, with the remainder paid into state accounts.
The Attorney-General said the case demonstrates Ghana’s growing capacity to investigate and recover digital assets hidden in foreign jurisdictions using local laws and non-conviction-based asset recovery mechanisms.
Beyond the crypto recovery, the Attorney-General disclosed that EOCO has exceeded its 2025 recovery target of GH₵200 million, achieving total recoveries of GH₵337.4 million, the highest in the agency’s history.
Direct recoveries paid into EOCO accounts stood at GH₵194 million, while indirect recoveries paid to the Ghana Revenue Authority and the Consolidated Fund amounted to GH₵142.6 million.
He credited the success to institutional leadership, judicial cooperation, and international partnerships, particularly with the UK National Crime Agency, which formally congratulated EOCO on the achievement.
The Attorney-General warned that Ghana will no longer be a safe haven for economic and organised crime, including cyber-enabled and cryptocurrency-based offences.
“This case should send a clear signal that no foreign jurisdiction is beyond the reach of Ghanaian law enforcement,” he said.
The investigation remains ongoing, with EOCO preparing a second phase to screen victims for restitution.
Names of suspects and victims have been withheld due to the active nature of the case.
Source: myxyzonline.com
