Sam George Claims That Real Estate Business In Ghana Serves As A Means For Money Laundering

• The real estate sector in Ghana is one of the growing industries demanding more money for people to venture
• However, Sam George has alleged that the real estate sector is also saddled with money laundering
• He explained that there are some sellers and buyers who are only in the business to clean their money

The Member of Parliament (MP) for the Ningo Prampram constituency, Sam Nartey George has said that the Ghanaian real estate sector is an avenue for money laundering.

The MP explained that there are several money launderers in the country however, they find ways to clean their money.

One of the sure ways the money launderers clean their money is through the real estate sector in the country. Either by buying or putting up and selling real estate.

“The real estate business in Ghana is money laundering. If our authorities want to deal with it, they will deal with it. The cost of real estate in Ghana is not justifiable by any stretch. You keep seeing these new high-rise buildings going up and they are selling them for half a million, a million dollars and they keep buying among themselves. So I have dirty money to clean, and I put up real estate you also have dirty money so you come and buy from me. Then automatically your money becomes clean then tomorrow you also start building yours then I come and buy from you and we are just cleaning the money.”

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Commenting on the ongoing Cecilia Abena Dapaah issue with her house help, Sam George said there is no actual fight against corruption in the country.

“We have a supposed fight against corruption…we have corrupt businessmen and corrupt business interests that will corrupt politicians, fund them but that money doesn’t necessarily sit with politicians. It has to trickle down for you to get into office and pay back. So it is an endless cycle.”

Reactions on social media

Meanwhile, the video posted on Twitter saw some social media users comment. Below are some of the comments

@thebellower said:

It obviously does because $400k on a dirt road in the middle of nowhere of a third world country is a madness

@IamKojoPoku commented:

Very True. I know politicians who bought apartments in Cantonments for millions of dollars and they paid in cash.

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@KwakuTha wrote:

I will believe these allegations suggestions because every rich man in Ghana now has a real estate business whereby their source of income is unknown, real estate business in Ghana has become a normal business whereby no one is questioning these people of their source of income.

@Emmasaint9 said:

So they know erh?. Dirty money nkoaaaaa Some of the pubs,eateries,champagne shops etc. So they know n nothing is being done about it Oh Ghana♂️♂️♂️

@pacify_kay commented:

Hard truth spoken by Hon.Sam George Fraud boys these days when caught sef use Real Estate as care off to escape arrest and prosecution and this act is on the rise

@Kuffuor20K wrote

This is an open secret. Those living in east legon, legon hills and the cantoments are much aware of this real estate money laundering business. It triggers down to the pubs and lounges in Accra. Some 2 particular places in mind in Accra are purposely set up for that

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Ghanaian living in the USA builds $300,000 mansion in Ghana

Earlier, YEN.com.gh reported that a Ghanaian living in America put up a house worth $305,000 in Ghana and moved in.

It took Rush Asare one year and six months to build the four-bedroom house and move in.

He said he denied himself the luxuries of life so he could complete his building on time.

Source: YEN.com.gh