Attorney general details alleged COCOBOD contract fraud involving Kofi Akpaloo

The Attorney General, Dominic Ayine, has detailed an alleged fraud case involving Mr Percival Kofi Akpaloo of the Liberal Party of Ghana, linking it to suspicious financial transactions connected to a COCOBOD feeder road contract.

Addressing the Government Accountability Series at the Jubilee House, he explained that the Financial Intelligence Centre flagged unusual transactions on an account held at First Bank Ghana and filed a Suspicious Transaction Report.

He noted that this action prompted an investigation by the Economic and Organised Crime Office, which established that Pomaa Universal (Gh.) Ltd, owned entirely by Akua Pomaa, was the rightful contractor awarded a COCOBOD feeder road project valued at over GH₵29.5 million in December 2020.

According to him, the project began and the first payment was correctly paid into the company’s account.

He explained that problems emerged with later payments, which raised red flags about misrepresentation, forgery and the unauthorized handling of cheques.

He disclosed that investigations showed Mr Akpaloo secretly registered a second company named Pomaah Universal (Gh.) Ltd, deliberately designed to closely resemble the original firm, with the difference being the addition of the letter “h”.

He stated that between December 2022 and June 2024, Mr Akpaloo collected eight cheques issued by the Ghana Cocoa Board in the name of Pomaa Universal (Gh.) Ltd, amounting to GH₵3,169,432.22, and deposited them into the account of his own company at First Bank Ghana.

He further explained that Akua Pomaa only became aware of the diversion in June 2024 after COCOBOD contacted her about outstanding payments on the contract. Upon making checks, she discovered that the funds had been redirected without her approval.

He added that she also alleged her signature was forged on the COCOBOD contract, using her former name, Mercy Owusu, to secure the agreement without her consent.

According to him, internal investigations by First Bank Ghana confirmed the fraud claims and concluded that Mr Akpaloo knowingly misrepresented ownership of the cheques.

He pointed out that the bank admitted operational failures, including its inability to detect differences between cheque payee names and account details.

He mentioned that the suspects investigated include Percival Kofi Akpaloo, Pomaah Universal (Gh.) Ltd and Delvine Akpaloo, the spouse of Mr Akpaloo.

He stressed that the evidence points to offences such as stealing, forgery and money laundering, adding that the suspects are expected to be charged in January as part of the accountability process.

By: Jacob Aggrey