JG Resources Limited and three of its directors are facing possible imprisonment after a High Court in Accra began contempt proceedings over claims that the company ignored orders to preserve assets linked to a disputed gold transaction.
The case before the Commercial Division of the High Court stems from a suit filed by Sesi Edem Company Limited, which accuses JG Resources of using its corporate name and the signature of its managing director without permission in a gold sale and purchase agreement with Tayvest FZCO.
According to court filings, Sesi Edem alleges that the agreement, which relates to the purchase of gold dore bars, bears a forged signature and company stamp. The company says it became aware of the transaction after receiving information from a journalist and subsequently took legal action.
On 19 December 2025, the court granted an injunction and preservation order in favour of Sesi Edem. The order directed JG Resources to freeze specified bank accounts, including an account with Access Bank, deposit funds connected to the disputed deal into court, and file a sworn affidavit disclosing all related assets. The order was reportedly served on 22 December 2025.
In an affidavit supporting the contempt application, Sesi Edem states that JG Resources failed to deposit any funds into court and did not file the required disclosure affidavit. It further claims that no application was made to vary, discharge, or stay the order. A registry search dated 7 January 2026 is cited as showing no record of compliance.
The company argues that the alleged failure to comply occurred while the court order was still in force and amounts to wilful disobedience.
Contempt proceedings are intended to protect the authority of the court. If the High Court finds that its orders were deliberately ignored, it may impose sanctions that include fines or imprisonment. The matter is scheduled for hearing in March 2026, when the court will decide whether JG Resources and its directors, Papa Yaw Owusu Ankomah, Maame Akosua Asama Kuranchie, and Kwaku Appiah Yeboah, should be committed for contempt.
The dispute is unfolding alongside a separate complaint reportedly lodged by Tayvest FZCO, described as a Turkish firm, with the Criminal Investigation Department of the Ghana Police Service. The complaint concerns an alleged 17 million dollar gold transaction that has attracted accusations of fraud, document manipulation, and conflicting claims of responsibility.
The scale of the transaction is said to have drawn the attention of national security authorities, with parallel investigations underway.
All allegations remain before the courts and investigative bodies. No final determination has been made on the claims.
