The Ghana Revenue Authority (GRA) has served notice it will confiscate the properties of Ibrahim Mahama – a brother of former President John Mahama – in two weeks if he fails to settle a GHC10,409, 492.86 million debt.

Mr. Mahama has been given a two-week ultimatum to defray the debt or risk having his goods confiscated and auctioned for the State to recover the amount. He is to make the payment by Monday, May 8, 2017.

He has been a guest of anti-graft agency the Economic and Organised Crime Office (EOCO) since last week for purportedly issuing in 2015, 44 post-dated cheques to the Customs Division, being duties for imports of equipment, but turned out to be dud cheques.

His company MBG Ltd. located in Tema – the harbor city of Ghana – which deals in the sale and rental of heavy duty vehicles and spare parts and one other Holman Brothers have been at the centre of the scandal.

According to Assistant Commissioner for Communication of GRA, Robert Mensah, the businessman had a settlement arrangement with the tax collection outfit since December 2016, but failed to honour that pact from February 2017.

Mr. Mensah said the Authority got alarmed when the cheques were taken to the banks only to be told that the “accounts were closed.”

“An agreement was made to pay GHC800, 000 per month… payment made so far falls short of that commitment. Within the next two weeks the two companies should make good all the indebtedness of GHC10, 409, 492.86 million,” he added.

The Commissioner told Accra-based Joy FM that should Mr. Mahama fail to honour his part of the bargain his properties will be auctioned “to redeem our revenue.”