Russian Investor Loses Over $10 Million Gold Shipment; Paid Goldstock Over $520,000 For Logistics But Gold Never Arrived In Dubai – Case Adjourned To December 16, 2026

Lawyer Sergey Vodolagin, representing a Russian company that has been operating in Ghana for over two years, has disclosed that his client lost gold valued at over $10 million after engaging Ghanaian firm Goldstock Company Ltd to transport the consignment to Dubai.

According to Lawyer Vodolagin, Goldstock was contracted to handle logistics and insurance for the shipment and charged over $520,000, which the investor duly paid.

“The gold was over $10 million dollars. Goldstock was supposed to transport the gold to Dubai and they charged for logistics and insurance, the investor paid Goldstock over $520,000 USD. Goldstock took the money but never delivered the gold,” Lawyer Vodolagin said.

He explained that his client engaged Goldstock two years ago, but the gold never arrived at its destination in Dubai.

The lawyer said the case, though straightforward, has dragged in court for over two years without progress.

“The case seems to be simple, but in reality, it has been over two years in court. Nothing has been happening. Today we had another hearing where the two accused persons never showed up. The lawyers for the accused never showed up. It was adjourned for another time, and we are still waiting,” he lamented.

The case has now been adjourned to December 16, 2026.

Lawyer Vodolagin said his client is losing patience but remains hopeful justice will prevail.

“We are losing patience and feel a little bit disappointed, but we still hope that at the next hearing we will finally get some solution, and the guilty people will be prosecuted, and justice will prevail,” he said.

Goldstock Now Licensed By GoldBod Despite Pending Case

Lawyer Vodolagin expressed alarm that Goldstock Company Ltd, despite standing trial for alleged gold fraud, has now obtained a license from the Ghana Gold Board (GoldBod) and is still operating in the gold sector.

“This happened two years ago. The Gold Board was not in existence at the time. But the funniest thing is that this Goldstock company now has a license with Gold Board, and it is now working with gold, potentially defrauding and deceiving other people like they did with us,” he stated.

He called for mechanisms to protect foreign investors and accelerate judicial processes involving investors.

Accused Persons Deliberately Delaying Trial – Lawyer Alleges

The lawyer accused the accused persons of deliberately delaying the trial.

“Somebody made a phone call to the investigator who was also the prosecutor. We as representative of the injured party, everyone, the judges, everyone was there. But they said they had some other things to do. They don’t have the right to do so. They must appear,” he recounted.

“Of course, what they are trying to do is delay the procedure. They don’t show up. My impression is that they are just delaying the process,” he added.

He appealed to prosecution and government officials to pay more attention to cases involving foreign investors to boost investor confidence.

“I think that more attention should be given to situations like this by the prosecution, by government officials, to make sure that such cases are heard on time. It cannot take two and more years to prosecute a case which is as simple as this: the money has been paid and the goods were not delivered,” he said.

Lawyer Vodolagin clarified that the matter is a private business dispute and the Russian Embassy is not involved.