The Attorney-General has announced that the state will prosecute Percival Kofi Akpaloo, founder and leader of the Liberal Party of Ghana (LPG), over his alleged involvement in fraudulent transactions linked to COCOBOD feeder road payments.
Speaking at a press briefing in Accra on Monday, December 22, the Attorney-General said investigations by the Economic and Organised Crime Office (EOCO) uncovered evidence of forgery, stealing, and money laundering involving Akpaloo and two companies connected to him.
According to the Attorney-General, Akpaloo allegedly incorporated Pomaah Universal (Gh.) Ltd, a company designed to closely resemble Pomaa Universal (Gh.) Ltd, the legitimate contractor awarded a COCOBOD feeder road contract valued at over GH¢29.5 million.
He explained that between December 2022 and June 2024, Akpaloo allegedly collected eight cheques issued by COCOBOD in the name of Pomaa Universal and deposited them into the account of Pomaah Universal (Gh.) Ltd at First Bank Ghana without the consent of the rightful contractor.
Investigations revealed that Akua Pomaa, owner of the legitimate company, was unaware of the look-alike firm and the diversion of funds until COCOBOD raised concerns over outstanding balances on the contract.
The Attorney-General further disclosed that First Bank Ghana’s internal review corroborated the allegations and acknowledged operational lapses in detecting discrepancies between cheque payee names and account details.
He also revealed that Akpaloo allegedly forged the signature of Akua Pomaa on COCOBOD contract documents using her former name, Mercy Owusu, to secure the agreement without her authorisation—a move investigators say was part of a broader scheme to misrepresent ownership and control of the contract.
The Financial Intelligence Centre (FIC) flagged the suspicious transactions, prompting EOCO to investigate and uncover the alleged misappropriation of funds totaling over GH¢3 million.
The suspects, including Percival Kofi Akpaloo, Pomaah Universal (Gh.) Ltd, and Delvine Akpaloo, are expected to be formally charged in January as the state seeks to recover the misappropriated funds and ensure accountability.
Source: Starrfm.com.gh
