Former CEO of the Venture Capital Trust Fund, Daniel Duku and two others are to refund some ¢18.5 million to the state.

This follows the decision of the court to review its earlier view which rejected the offer of restitution.

Justice Anthony Oppong who is hearing the matter had on two occasions said he is not impressed with the plan to refund the money to the state by payment in bits.

Mr. Duku and two others accused of causing financial loss to the state have been engaging the Attorney General’s office to jointly refund 20 million cedis.

The two other accused persons are Irene Anti-Mensah, who was his Executive Assistant at the VCTF, and Frank Aboagye Mensah, Anti-Mensah’s husband.

The three accused persons wanted to plead guilty to a total of about 42 charges leveled against them and make amends by paying the money they allegedly took from the state, in line with Section 35 of the Courts Act, 1993 (Act 459).

The new move will see Daniel Duku, pay an amount of ¢15million and a fine of 500,000 to the State.

Irene Anti-Mensah is to pay ¢1 million to the Venture Capital Trust Fund (VCTF) with a fine of ¢100,000 to the state.

Frank Aboagye Mensah, on his part, will pay ¢1,195,000 to Venture Capital Trust Fund (VCTF) and a fine of ¢100,000 to the State.

In addition, the first accused, Daniel Duku, is to forfeit about eight buildings, the Agyekum Presidential Villa at Adjiringano and Georgetown Heights, some 6 apartments made up of three bedrooms each, and five vehicles, including a Porsche Cayenne and Porsche Panamera, to the State.

The accused persons are expected to make good all the payments within three months from Friday, July 10, 2020.