Member of Parliament for Ningo-Prampram, Sam Nartey George, has challenged the Ghana Real Estate Developers Association to execute their threat of lawsuit over money laundering claims he leveled against stakeholders .

Speaking on JoyNews' Newsfile on Saturday, July 22, the MP stated that the real estate industry in Ghana is a hoax used to cover up money laundering activities happening in the country.

"The real estate business in Ghana is money laundering. The cost of real estate in Ghana is not justifiable by any stretch.

"You keep seeing all these new high-rise buildings going up and they are selling them for half a million dollars, and they keep buying among themselves," he said.

Explaining how alleged money laundering works in the real estate business, he stated that several parties in the industry engage in buying and selling in order to convert their "dirty money" into "clean money."

His comments did not sit well with stakeholders in the real estate industry.

The Executive Council of the Ghana Real Estate Association (GREDA) demanded an apology and a retraction of the allegation within seven days in a letter dated  July 25, 2023.

In response to the letter, Mr Nartey George refused to render an apology. He stood by his words.

“Let me start by stating that I have absolutely no intention to render an apology, qualified or not, nor make any retraction. As a public office holder, I am minded first by my fidelity to the truth, my conscience and the general wellbeing of the Ghanaian people. These considerations in my opinion supersede the whims of any individual or specific grouping,” he noted in a release dated July 26.

It was expected that following the expiration of the ultimatum, Mr Sam George would be in court, however that is not the case.

Calling the bluff of GREDA in an interview on JoyNews on August 8, the Ningo-Prampram legislator, dared the Association to come after him as promised. The MP threatened to let the cat out of the bag should GREDA make an attempt to fight his claims.

"I've spoken about money laundering in this country and I am still waiting for GREDA, Ebo Bournful and his people. It has been more than 7 days. You said you were taking me to court. I am waiting for you. Whether court or Privileges Committee.

"I am waiting for you so that I will expose and the rot that is going on there since you people say you want to fight me. I've spoken about money laundering in real estate and don't forget you are having Ministers of state who have millions of dollars sitting in their houses. They need to clean up the money," he said.