Former Ghanaian international midfielder, Michael Essien, is on the verge of losing two of his choice properties worth millions of dollars following an order by an Accra High Court for the properties to be auctioned.
The order for the auction of the properties was given by the Deputy Sheriff of the High Court (Commercial Division) on June 12, 2024, following a recent court ruling against the former Chelsea midfielder.
The properties, according to reports in the Ghanaian media, are located at Stephen Quarshie Crescent, East Legon, House Number 9 and House Number 204/205, Trassaco (Phase 2), Adjiringano, all in Accra, with one of them said to be valued at between $20 million and $30 million.
Foremost Ghanaian sports journalist, Saddick Adams, who confirmed the court order in a video, said the genesis of Essien’s troubles began when he signed a mortgage for the aforementioned properties many years ago and was paying for them in installments.
In the video, Adams said Essien had put the mansion in the care of his wife, Akosua Puni, who was then supposed to take over the payment of the mortgage.
“When the payment for the mortgage ceased coming, the owner took the matter to court to try to retrieve the money,” Adams said on his show on Angel FM on Tuesday.
He explained further that Essien no longer had an interest in the property and so reached an agreement in court for the mansions to be sold, so that he could use his share of the proceeds to buy a new house at another location.
“Essien has not taken out a loan. He’s not broke. It is being reported that he is in debt due to several loans, but the truth is that it is a mortgage he signed while he was playing and was paying in bits.
“Then it got to a time when payment was not coming through as it was supposed to. So the property owner or the bank that financed it decided that they wanted to take it back, so it is not a loan.
“Essien also left the house in the care of his wife, Akosua Puni. He had no interest in it as his property, and so the control was left in someone else’s care who was expected to continue with the payment of the mortgage.
“According to a close friend of Essien who also had a property in the same area, the cost of the mortgage shot up while property prices in the area have also gone up,” Adams added.