A Ghanaian on trial in the U.K has revealed that the ‘dirty’ money he’s accused of stealing was used to campaign in Ghana.
Ellias Preko, a former banker with Goldman Sachs, said he cannot account for a huge chunk of the £7.3m he’s been asked to pay back because he spent it campaigning in Ghana as a candidate for Parliament back in the early 2000’s, standing on the ticket of the NPP.
According to him, campaigning in Ghana is mostly cash-based and therefore he cannot provide receipts of his spending.
“Most of the expenses are not receipted,” he said.
He said political activities in Ghana are not financed by the state therefore individuals are forced to find private financing or fund their campaigns themselves.
“Ghanaian political activities are not financed by the state. There is a different concept of work there, the difference being everything is cash.
“Most of the time, people who donate money they donate it to two or more parties and hedge their bets.
“The candidate himself will want to distribute money to targeted areas for food and clothes.” he added.
60-year-old Preko, a Havard graduate, is facing a ten-year jail term if he fails to repay the £7.3m.
He was initially jailed in 2013 for 4 and a half years after helping a Nigerian politician launder money out of his country.