Melodies and Money: Money Laundering In Ghana Music as Musicians Aid

Melodies and Money: Money Laundering In Ghana Music as Musicians Aid

In the vibrant world of Ghana’s music industry, where Afrobeats and Highlife dominate airwaves, an unsettling narrative is quietly unfolding behind the scenes. Allegations are emerging of musicians being used as intermediaries to launder money for fraudsters, corrupt politicians, and shadowy businessmen. While music brings joy to millions of Africans especially Ghanaians, its glitz and glamour might also mask a darker reality most fans are not privy to because of the love of their musical idols. Samuel Kwame Boadu, Founder of SamBoad brings to light some of these darkness in Ghana Music but this time with names withheld


The Mechanics of Music Money Laundering

Melodies and Money: Money Laundering In Ghana Music as Musicians Aid
Money laundering typically involves converting illicit funds into legitimate earnings

Money laundering in the music industry typically involves converting illicit funds into legitimate earnings through concerts, album sales, royalties, or event sponsorships. In Ghana, the lack of stringent financial auditing in the entertainment sector provides an ideal cover for laundering activities perhaps something that has being long going on with traces of some musicians being political now.

One common method that we found in Ghana is the over-inflation of event budgets which many Ghanaians perceive it as millionaires who are “Event Organizers”. One common and most seen example is a businessman or politician who funds a musician’s show, pumping millions into “production costs.” However, much of this money is funneled back into private accounts as “unaccounted expenses.” Another method involves ghost streaming, where fraudulent funds are used to purchase streams or downloads of an artist’s music, generating legitimate royalties.

In recent times, we can also see proud acclaimed “Frauds” backing upcoming musicians with their illegitimate funds with some calling themselves artist managers or Managers with less or no experience in Music. They just have one thing in mind, get the artist to the top and launder money with the artist and share percentage back door.

We heard some top Ghanaian musicians recently accusing each other of “Stream Farming“. In January 2024, Reggie Rockstone accused some Ghanaian Musicians on Stream Farming, a news that appeared on GhanaWeb(Click To Read). Perhaps Grandpapa couldn’t say all just to protect his sanity and prevent attacks but it sounded like he knew something and was hurt by how Ghana Music is going now. You should read my previous article ” Ghana’s Music Industry: Producing Frauds Instead of Revenue?


Case Studies Across Ghana and Africa

Money laundering in the music industry typically involves converting illicit funds into legitimate earnings
Ghanaian musician received substantial sponsorship from a businessman
  1. The “Big Spender” Sponsorships
    A 2021 case revealed that a high-profile Ghanaian musician received substantial sponsorship from a businessman later arrested for tax evasion. Sources close to the artist disclosed that concert costs were overstated, with a large chunk of the funds redirected into offshore accounts. We are sure you heard of that news and for legal reasons which we can’t mention names, you can research it out for further clarifications
  2. Fraudulent Collaborations
    In Nigeria, music mogul Naira Marley was embroiled in controversies involving alleged connections to online fraud (known locally as “Yahoo Yahoo”). Though he denied direct involvement, investigations revealed suspicious financial dealings linked to his music label. In May 2019, the Economic and Financial Crimes Commission (EFCC) arrested him alongside others, following the release of his song “Am I A Yahoo Boy.” He was subsequently charged with 11 counts of fraud. These developments have intensified discussions about the intersection of the entertainment industry and financial crimes in Nigeria, a report by Vanguard News
  3. Money in Music Videos
    Lavish displays of wealth in music videos—luxury cars, private jets, and opulent mansions mostly tagged us toys and money made from music… hmmm—often raise questions, questions of “If really there is Money in These Melodies, Genuinely or there something the diehard fans who remain poor are not told the actual truth. Industry insiders suggest that some of these props are not merely for show but part of a scheme to normalize and justify sudden wealth.
  4. Event Laundering in Ghana
    In 2023, a prominent Ghanaian artist (Name Withheld) hosted a concert funded by a politician facing corruption charges (Name Withheld). Attendees noted unusually low-ticket sales compared to the event’s high production value, fueling speculation about the source of funds.

Mona Faiz Montrage (Hajia4Reall): In November 2022, Ghanaian musician and socialite Mona Faiz Montrage, known as Hajia4Reall, was arrested in the United Kingdom for her alleged involvement in an $8 million fraud scheme. She was extradited to the United States and charged with wire fraud, money laundering, and receipt of stolen money. In February 2024, she pleaded guilty to one count of conspiring to receive stolen money and was sentenced to 12 months and one day in prison, followed by three years of supervised release. She also agreed to pay forfeiture and restitution totaling $2,164,758.41.

Reports sighted by Brand Focus Africa have highlighted concerns about the sudden and unexplained wealth of some young Ghanaian musicians, leading to public scrutiny and discussions about potential involvement in illicit activities, including money laundering.

Additionally, discussions within the Ghanaian media have addressed the potential for the music industry to be exploited for money laundering purposes. An article in the Business & Financial Times explores how musicians can be used as conduits for laundering illicit funds, emphasizing the need for greater transparency and regulatory oversight in the entertainment sector


The Industry’s Silence and Complicity

Cases are often stymied by the industry's unwritten code of silence
Cases are often stymied by the industry’s unwritten code of silence

Efforts to investigate such cases are often stymied by the industry’s unwritten code of silence. Musicians rarely disclose their financial backers, while corporate sponsors and event organizers evade accountability through shell companies that the so called “Gatekeepers” protect using political powers and money. Meanwhile, regulators focus more on content rather than the source of funding or perhaps it is an intentional topic not to discuss by the so called “Bought Media Houses in Ghana


Implications for Ghana’s Music Industry

This alleged nexus between music and money laundering undermines the integrity of Ghana’s creative industry hence the shambles we see today and the less attractive showbiz and events we experience now. Legitimate artists striving to succeed through talent and hard work face stiff competition from counterparts whose careers are bolstered by dubious financing. Moreover, it tarnishes Ghana’s global reputation as a hub for authentic African music hence even our top artists use months to even get genuine views on their YouTube channels unless they promote or “Stream Farm” or buy as usual.


Calls for Action

  • Transparent Auditing: Advocacy groups have called for stricter financial audits of the entertainment industry, particularly around large events and sponsorships.
  • Regulatory Oversight: The Creative Arts Council and Financial Intelligence Centre (FIC) in Ghana must collaborate to track suspicious transactions.
  • Musicians Speaking Out: Artists should distance themselves from dubious financiers to safeguard their reputations and the industry’s credibility.

Welllllllll, we know this won’t be implemented because of “Gatekeepers“….


Our Take:

While Ghana’s music industry thrives on creativity and passion, it risks being overshadowed by allegations of financial impropriety. As investigative journalists and industry watchdogs continue to expose these practices, it is up to stakeholders—musicians, fans, and regulators alike—to demand accountability and protect the integrity of Ghana’s cherished music scene.

(References: Multiple sources, including local and international news reports on cases involving Naira Marley, sponsorship controversies in Ghana, and broader investigations into money laundering in Africa’s entertainment sectors.)

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