The Financial Intelligence Centre (FIC) has exonerated prominent Ghanaian businessmen Daniel McKorley, popularly known as McDan, and Richard Nii Armah-Quaye after thorough investigations found no evidence of financial wrongdoing.
The FIC in March 2025 froze the accounts of the two entrepreneurs as part of a wider inter-agency probe into alleged financial irregularities.
The decision was taken in accordance with Section 56(1) of the Anti-Money Laundering Act, 2020.
Chief Executive Officer of the FIC, Ing. Kwadwo Twum Boafo in an interview with GHOne TV, confirmed that the accounts of both men, which were previously frozen during an inter-agency probe, have now been unfrozen following a conclusive determination that there was no basis for further action.
“McDan’s issue has been resolved. His accounts are unfrozen. The accounts of Richard Nii Armah-Quaye were also unfrozen after it was determined there was no need to proceed,” Ing. Twum Boafo said.
He praised the two entrepreneurs for fully cooperating with investigators, noting that their transparency helped clarify the legitimacy of their business operations.
“He came here, sat down with us and gave a thorough explanation of what he does, and there was no problem. We deal with people fairly, there are no personal vendettas,” he emphasized.
Kwadwo Twum Boafo further dismissed claims of political bias in the Centre’s operations, stressing that the FIC works strictly based on evidence and due process to protect Ghana’s financial system from abuse.
He reiterated the agency’s commitment to strengthening Ghana’s anti-money laundering regime and urged citizens to trust state institutions to act fairly and independently.
