Suame MP John Darko Clears Name in SIC-Equity Financial Dispute Investigation

Suame Member of Parliament John Darko has firmly rejected allegations of involvement in a post-court settlement between two troubled savings and loans firms, SIC and Equity, following questioning by the Economic and Organised Crime Office (EOCO) this week. The MP's legal team has issued a comprehensive statement outlining his limited role in the dispute and clarifying the scope of his firm's engagement.

The EOCO interrogation on Tuesday, October 13, 2026, forms part of a broader investigation into the financial affairs of both institutions. Darko's lawyers, Darko, Keli-Delataa & Co, have stated that their client met investigators voluntarily to assist with the inquiry and to clarify his position regarding events that have sparked significant scrutiny in Ghana's financial services sector.

Darko's Role and Timeline

According to the statement released Wednesday, Darko's involvement was strictly confined to legal representation. His law firm served as counsel for Equity during its court proceedings against SIC, representing the company in a dispute over a matured investment that remained unpaid. Additionally, Darko held a position on Equity's board of directors between 2015 and 2023.

Crucially, the lawyers emphasised that Darko ceased his board membership by September 2023—well before the controversial settlement and subsequent land transaction occurred. The firm has also disclosed that it terminated its legal services to Equity prior to these events, citing unpaid legal fees as the reason for discontinuing the professional relationship.

Disputed Settlement and the ECOSWISS Transaction

At the centre of EOCO's investigation is a controversial post-judgment settlement where Equity allegedly compromised a court award in SIC's favour. The matter became more complex when Equity reportedly sold land that had been attached by the court—used to secure the judgment—to a third party, ECOSWISS.

Darko's legal team has stated unequivocally that they were unaware of Equity's decision to sell the attached land and had no involvement in negotiating or facilitating this transaction. The statement underscores that the firm's involvement ended with the litigation phase and efforts to recover portions of the court-awarded amounts.

Why This Matters for Ghana

This case touches on several critical issues affecting Ghana's financial sector and public trust. The collapse or mismanagement of savings and loans institutions has historically devastated thousands of ordinary Ghanaians who deposited their life savings with these companies. The dispute between SIC and Equity, coupled with allegations of compromised court judgments, raises questions about the integrity of Ghana's legal system and regulatory oversight.

The involvement of an active MP in such matters—whether substantively guilty or not—inevitably attracts scrutiny and shapes public perception of governance and accountability. EOCO's investigation signals that state institutions are attempting to investigate potential financial crimes, though the outcome remains to be seen. For Ghanaians who have lost money in failed financial institutions, cases like this represent either accountability or further injustice, depending on investigative findings.

Darko's legal representatives have affirmed their client's willingness to co-operate fully with ongoing investigations and have praised EOCO's professionalism throughout the process. They have maintained that both Darko and the law firm acted ethically and professionally at all times. The investigation into SIC Savings and Loans and Equity Savings and Loans continues, with potential implications for other stakeholders and creditors involved.