Asante K. Berko
Lawyers of the former Tema Oil Refinery (TOR) boss, Asante K. Berko, have said their client has settled his case with the United States (US) authorities.
The TOR boss had to resign in April last year following reports in the US that he allegedly facilitated the payment of bribes to government officials and some MPs during an emergency power contract arrangement under the Mahama-led NDC administration with a Turkish energy company called AKSA Enerji and, therefore, said they were charging him.
However, a statement from Carl H. Loewenson, Jr., Partner, Morrison & Foerster LLP in New York, lawyers of the Ex-TOR boss, said the issue had been settled long ago and the case raised by the US authorities against Mr. Berko has been closed.
“In fact, Mr. Berko recently settled a case with the Securities & Exchange Commission without admitting or denying the allegations in the SEC’s complaint. Neither the SEC nor the court found Mr. Berko guilty,” the lawyers said.
“In their complaint, the SEC alleged that Mr. Berko had received $2 million as compensation from a Turkish energy company ‘for arranging the bribery scheme.’ The SEC sought disgorgement of those allegedly ‘ill-gotten gains,’ plus interest, plus a monetary penalty. Even before Mr. Berko responded to the SEC’s complaint, the SEC agreed to settle for disgorgement of $275,000 (plus interest), with no penalty. The payment by Mr. Berko is not a fine or a penalty,” the statement explained.
The statement said “no one found Mr. Berko guilty. Mr. Berko settled with the SEC, and the SEC’s case is now closed.”