CEO & Founder of GN Bank, Dr. Papa Kwesi Nduom
News

Breaking News: Lawsuit Against Group Nduom in the US Dismissed.

……….Groupe Nduom, the umbrella company for 60 other businesses was accused of laundering a total of $63,000,000

………… The lawsuit was filed by a United States-based equity fund and investment company, Birim Group LLC

………… The Birim Group LLC further alleged that Groupe Nduom engaged in illegalities for the sole personal financial gains to the Nduom family

……………The case was dismissed today November 23 2021 with Prejudice.

The lawsuit against GN Bank, the umbrella of 60 other businesses accused of laundering a total of $63,000,000 in The USA has been dismissed with prejudice. Our sources monitoring the landmark lawsuit confidently informed us today that the judge handling the case has dismissed all the charges against the GN Bank and its associates. The Court also dismissed Plaintiff’s claims against the non-U.S. Defendants. Also, Plaintiff’s RICO claims and all claims against GN USA LLC are dismissed with prejudice. Plaintiff was given the chance to move for leave to file an amended complaint if it believes it can cure the remaining deficiencies described in the opinion by the presiding Judge. That motion must be filed within 21 days of this order or dismissal will be with prejudice. Should Plaintiff file a motion for leave, it must be accompanied by a brief of five pages or less explaining why the proposed amended complaint cures the deficiencies mentioned herein.

The founder of GN Bank, Dr. Papa Kwesi Nduom, was sued by a United States-based equity fund and investment company, Birim Group LLC. The lawsuit alleged amongst others that Groupe Nduom engaged in these illegalities for the sole personal financial benefit of the Nduom family. The case was filed in Federal Court in Chicago in November 2020 against Dr. Papa Kwesi Nduom and associated parties.

Dr. Nduom, his wife Yvonne, their children, Nana Kweku, Edjah, and Nana Aba were all named as defendants in the suit. The Plaintiffs, Birim Group LLC further alleged that Groupe Nduom engaged in the illegalities “for the sole personal financial benefit of the Nduom family” and used his businesses as an outlet to “facilitate the unlawful acts”. “Groupe Nduom is wholly owned, dominated, and controlled by Nduom and his family for the sole personal benefit of Nduom,” the writ alleged. The plaintiff believes that the “manipulations and liabilities” among Groupe Nduom’s entities effectively resulted in the “diversion of assets from one business entity to the defendants and their other entities to the detriment of creditors and depositors”. Birim Group LLC was asking for “treble compensatory damages, as well as consequential, exemplary and punitive damages in an amount to be determined by trial.” They also want the court to order “disgorgement of all profits, benefits and other compensation obtained by defendants including all ill-gotten gains from their illegal and criminal activities.”

The news comes at a better time for the beleaguered Nduom family, whose Banks were collapsed by the current Nana Addo administration a few years back. Dr. Nduom has always maintained that the lawsuit has no merits and that he did nothing wrong.  

On his Facebook wall after the verdict, Dr. Nduom wrote :

“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!”

25.-Memorandum-Dismissing-the-Complaint

Source: sankofaonline.com

One Comment

  1. Bernice

    We thank God for his mercy

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