Despite several warnings  from the Precious Minerals Marketing Company to various Gold Exporters and Refineries to  desist from scamming potential gold buyers or unsuspecting victims of their hard-earned money, that goes to tarnish the image of the country and the agency,  it seems some Ghanaian exporters are bent in disregarding this noble advice.

As if to call the bluff of the PMMC, Aisibco Refinery and its Chief Executive Officer, Alhaji Yahya Sibico, on Monday, 6th May, 2024 in a very well calculated move has managed to scam a Ghanaian gold an investor an amount of  $400,000 in a quest to export a gold Dore  on CIF( Cost Insurance and Freight ) of 55kilos supplied by a gold company called L. F. Mineral Resources Ltd represented by one Mr. Alex Ohene and Nana K Adusei.

A contracted sighted by this reporter, indicated a trippite agreement duly signed by all three parties to the deal, the suppliers of the gold, L F Minerals Company represented by Mr. Alex Ohene and Mr. Kojo the Buyer and the Depository/ Exporter, Aisibco Refinery represented by Alhaji Yahya Sibico.The scam, which was masterminded by the sellers led by Alex Ohene an an 80-years old man called Nana Adusei, approached the buyer and  managed to convince him to send a  55 kilos of gold to his destination country, Italy and he will only pay after a final assay and confirmation at the destination but must pay a 5-kilos cash to take care of export charges and collateral.

The buyer after meeting with the CEO of the refinery to do his due diligence, later agreed to do the assay and exporting of the 55 kilos.  The buyer then paid in cash the assay invoice of $5,750.00 to the refinery After all the 55-kilos of gold was assayed and 5-kilos smelted for export, the buyer as agreed in the contract paid all export charges of 5% of the total gold to be exported amounting to One Hundred and Seventy Thousand Dollars ( $170,000) to the refinery/exporter, Alhaji  Yayha Sibico.

The buyer further paid for the 3-Kilos of gold amounting to one hundred and fifty thousand dollars to the sellers through the refinery ceo.  The 5-kilos which was supposed to be given to the buyer after payment,  was later picked up by a supposed Customer Officer for packaging and the gold never came back.  With constant assurance by the CEO of Aisibco Refinery, Alhaji Sibico to export the 55-Kilos of gold to the final destination, since Monday the 6th of May, 2024, till today, Friday, 10th of May, 2024, the gold has still not been exported. 

The scamming nature of Alhaji Sibico and his collaborators  was so shocking when this reporter listened to a recorded audio conversation between Alhaji Sibico and the buyers.    Alhaji Sibico, after excuses for 3-days why the gold hasn’t been exported, in that recorded audio, told the buyers, he needs a bank statement from the seller’s bank to attached to its forged documentation before the gold can be exported.  He went ahead to firmly assured the buyer the gold will be exported  that day regardless of the seller’s bank statement.  

When the buyers confronted him that per the laws and documentation needed for export of gold, there is no need of a bank statement form the sellers since the 80% repatriation will come through his refinery accounts.  Alhaji Sibico, after realizing he doesn’t have any more excuse to give to the buyers after 3-days, told the buyers he is going to make sure the gold is exported since all payment has been made to him.  He asked for the meeting to be suspended for an hour to enable him go to customs to finalized the export… Alhaji has since not returned. 

As the PMMC keep advising the general public, particularly individuals interested in the purchase of gold to be extremely cautious so as not to fall prey to these fraudulent schemes.  The added that Prospective gold buyers are also encouraged to conduct due diligence to ensure they are getting value for money. At all times, the usual caveat emptor precautions should be adhered to. Prospective gold buyers are therefore advised to contact PMMC, the only recognized National Assayer to supervise their gold purchase transactions.

Per this advice, the buyers told this reporter they will report Alhaji Sibico and the sellers, Mr. Alex Ohene and Nana Adusei to the police and the PMMC for their issues to be addressed since per their subsequent investigation this is the mundus operandi of the Alhaji Sibico and the sellers of the gold. They have also cautioned the public and potential gold buyers to avoid dealing with Aisibco Refinery and its deceitful CEO, Alhaji Sibico, which has their office at Airport AFGO premises just behind Ghana Airport Company.  The buyers have vowed to publish the picture of the scammers on various social media platforms. 

Stay tuned.