The News GodThe News GodThe News God
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
      • Biography
      • Net Worth
      • Famous Birthdays
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Reading: Shocking: Fraudster secured ECG deal for PDS
Share
Font ResizerAa
The News GodThe News God
Font ResizerAa
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
Search
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Follow US
  • About Us
  • Authors
  • Advertise
  • Contact Us
  • Disclaimer
  • My Bookmarks
  • Terms of Use & Privacy Policy
  • Media Partners
The News God > Blog > News > Shocking: Fraudster secured ECG deal for PDS
NewsPolitics

Shocking: Fraudster secured ECG deal for PDS

Sampson Gaddah
Last updated: March 25, 2022 10:51 am
Sampson Gaddah
July 31, 2019
Share
2 Min Read
PDS scandal
SHARE

It has been gathered that government suspended the concession agreement with Power Distribution Services (PDS) after discovering that the person it had been dealing with was a fraudster.

It is now emerging that the officer who executed the Demand Guarantees (Lease Payment Security and BSA Payment Security) submitted by PDS was not authorized.

PDS was supposed to manage the operations of the Electricity Company of Ghana (ECG) for 20 years starting from Friday, March 1, 2019.

But government was forced to suspend the agreement with immediate effect as a precautionary measure, 3news.com understands, having realized the element of fraud in the transfer of ECG’s assets and management to PDS.

Related Posts

Indianapolis Officer
Horrified Judge Imprisons Indianapolis Officer for Trampling Defenseless Man’s Face.
Latest News in Africa: Precious Ramabulana’s alleged killer abandons bail bid
Terms You Need To Know When Starting A Cryptocurrency Trading Account
CPAC attendee with coronavirus had contact with ‘several’ members of Congress: physician

When authenticated, it could lead to the nullification of the entire ECG concession agreement.

Sources close to the deal told 3news.com this major development came to light following a series of due diligence tests the guarantees were subjected to by the ECG.

In the course of ECG investigations, a commercial insurer and reinsurer, Al Koot, which is based in Qatar wrote a letter to ECG dated 16th July, 2019 claiming among other things, that the officer who executed the Guarantees from Al Koot was not authorized and that the guarantees are null and void.

The letter also accused the officer of committing fraud.

A number of meetings were subsequently held between government and stakeholders on July 28 culminating into the suspension of the concession agreement on July 30.

Meanwhile, a government delegation is expected to travel to Qatar on Wednesday July 31, 2019 to meet with officials from Al Koot in order to verify the information specifically on the fraud aspect.

Government has also assured that it is taking steps to ensure the development does not affect distribution, billing and payment services.

Source: 3news.com

Don’t forget to Hit the Red Bell on your right to receive news prompt.

Bosnia and the Dayton (Dis)agreement: 25 Years Later
AOC supports Biden, but she says that some things “could have gone better.”
It a waste of time supporting NPP – Agya Koo
Arizona Man Sentenced for Sexual Conduct with Minor
Steve Hilton to Trump: ‘Wear impeachment like badge of honor, wield it like weapon of war’
Share This Article
Facebook Email Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Archbishop Dag Heward Mills is ‘Antichrist’ and must be arrested – Maurice Ampaw
Next Article Reveled: Why government was forced to sign ‘fraudulent’ PDS agreement

Latest Publications

India's Gujarat Bridge Collapse
India’s Gujarat Bridge Collapse Kills 10, NDTV says
News
July 9, 2025
The Benefits of Installing a Splash Pad in the Community Park
The Benefits of Installing a Splash Pad in the Community Park
Entertainment
July 9, 2025
Australia vs Ireland for PharmD Graduates: Which Country Offers the Best Job Prospects?
Australia vs Ireland for PharmD Graduates: Which Country Offers the Best Job Prospects?
Education
July 8, 2025
Male chickens banned in north Lebanese village over loud squawking
Male chickens banned in north Lebanese village over loud squawking
News
July 7, 2025
Tony Profane's wiki/bio
Tony Profane bio, wiki, boyfriend, height, weight, age, photos and more
Entertainment
January 22, 2024

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe

You Might also Like

Heavy weapons are being used in the border dispute between Kyrgyzstan and Tajikistan.
News

Heavy weapons are being used in the border dispute between Kyrgyzstan and Tajikistan.

September 16, 2022
government-urged-to-invest-in-climate-friendly-ways-of-cultivating-rice
News

Government urged to invest in climate-friendly ways of cultivating rice

January 30, 2020
How to Choose the Right Trump 2024 Merchandise for You
Politics

How to Choose the Right Trump 2024 Merchandise for You

March 11, 2023
Politics

Abortion would be classified as homicide in Louisiana, according to the New York Times.

May 6, 2022
Show More
© 2025 Thenewsgod. All Rights Reserved.
  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Disclaimer
  • Authors
  • Media Partners
  • Videos
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?