AG to prosecute Kofi Akpaloo, wife over GHS3.1m COCOBOD cheque diversion

The Attorney General and Minister for Justice, Dr Dominic Ayine, says his office will prosecute Mr Percival Kofi Akpaloo of the Liberal Party of Ghana, along with two others, over alleged financial crimes involving a COCOBOD contract.

Speaking at the Government Accountability Series in Accra on Monday, December 22, he said the case began after the Financial Intelligence Centre (FIC) flagged a suspicious transaction report submitted by First Bank Ghana Limited concerning activities on an account belonging to Pomaa Universal Ghana Limited, a company linked to Mr Akpaloo.

Following the report, the Economic and Organised Crime Office (EOCO) launched investigations, which revealed that Pomaa Universal Ghana Limited was a legitimate company owned by a woman identified as Akua Pomaa. The company was awarded a feeder roads contract by COCOBOD in December 2020, valued at GHS29.5 million.

According to the Attorney General, although the project commenced and initial payments were properly made into Pomaa Universal Ghana Limited’s account, subsequent transactions raised serious concerns.

Investigators uncovered issues of misrepresentation, forgery and unauthorized handling of payment cheques.

Dr Ayine explained that Mr Akpaloo secretly incorporated another company, distinct from Pomaa Universal Ghana Limited, but deliberately added the letter H to its name, calling it Pomaaah Ghana Limited. Between December 2022 and June 2024, Mr Akpaloo allegedly collected eight cheques issued by COCOBOD in the name of Pomaa Universal Ghana Limited, totaling GHS3,169,432.22, and deposited them into the account of Pomaaah Ghana Limited at First Bank Ghana Limited.

He said investigations showed that Akua Pomaa was unaware of both the existence of Pomaaah Ghana Limited and the diversion of funds until COCOBOD contacted her in June 2024 about outstanding balances on the contract. She later discovered that the payments had been collected and redirected without her consent.

The Attorney General further disclosed that Akua Pomaa alleged her signature was forged on the COCOBOD contract. The document was allegedly signed using her former name, Mercy Owusu, without her authorisation.

Dr Ayine said First Bank Ghana Limited conducted its own internal investigation and confirmed the fraud allegations, concluding that Mr Akpaloo knowingly misrepresented ownership of the cheques and deposited them into the wrong account.

The suspects named in the case are Percival Kofi Akpaloo, Pomaaah Ghana Limited and Delvin Akpaloo, his wife. Dr Ayine stated that evidence points to the commission of several offences, including stealing, forgery and money laundering.

He said the Attorney General’s Department will formally charge the suspects when work resumes after the Christmas holidays.

CitiNewsRoom