Imperial Homes Ltd responds to publication of involvement in $270,000 property fraud case

In response to the article published by the Herald Ghana Newspaper on November 22, 2023, titled “Imperial Homes Caught Up in $270,000 Fraud Case,” the company has issued a press release to set the record straight and correct the misleading impression created by the headline.

The company has asserted through the release that despite the banner headline suggesting its involvement in a $270,000 fraud case, the content of the story does not implicate the company in any fraudulent activities.

The release emphasizes the need to rectify the damaging impact on the reputation and brand of Imperial Homes Ltd.

The press release provides the following key facts to clarify the situation:

1. Property Development and Handover: Imperial Homes developed the property in question and handed it over to the buyer, Gsell Real Estates Limited, in 2017.
2. Forgery and Deceptive Transaction: In 2022, an individual named Raymond Maglo forged the signature of Imperial Homes Limited’s CEO, Mr. Francis Biney, on a Deed of Assignment, falsely claiming to sell the property to Derek Appiah. The release highlights that Derek Appiah and his representative, Ernest Danso, did not verify with Imperial Homes Limited whether the company still owned the property. Instead, they relied on Mr. Maglo’s word and paid funds to him.
3. Legal Action and Distancing from Fraudulent Transaction: The CEO of Imperial Homes Limited has provided a statement to the Ghana Police Service regarding the forgery of his signature. The company completely distances itself from the fraudulent transaction and the parties involved.
4. No Dealings with Parties Involved: Imperial Homes Limited states that it has had no dealings with Raymond Maglo, Derek Appiah, or Ernest Danso concerning the purchase of the property. The company has not received any payments from the parties implicated in the fraud case.

The press release emphasizes Imperial Homes Limited’s commitment to developing and selling only legitimate properties in Ghana and beyond, categorically denying any involvement in fraudulent activities.

However, the release also notes that despite requests to the Herald Ghana to retract or correct the headline and remove Mr. Biney’s picture from all media channels, the newspaper has failed to do so.

Imperial Homes Limited expresses its intention to explore all legal avenues to protect its reputation and brand.