No record shows Gov't owns 24% in Quality Grain Company - Witness

A prosecution witness has told the Fast Track Court that investigations into the operations of the Quality Grain Company did not show in official records that the Government owns 24 per cent shares as indicated on the registration form at the Registrar-General's Department.

Deputy Executive Director (Investigations) of the Serious Fraud Office, Theophilus Cudjoe, told the Fast Track Court that none of the government officials, who were involved in the granting of 21 million dollars to the company, produced a document to support it.


Mr Cudjoe, a prosecution star witness was answering questions under cross-examination by defence counsel in a case in which six persons including two former Ministers of State are charged with conspiracy and wilfully causing financial loss to the state.


Witness said investigations showed that "even if the company is given the benefit of doubt", not more than 10 million dollars out of the 21 million dollars the government guaranteed had been spent on the project.


He disagreed with a suggestion by counsel that his report was "erroneous" since he did not do proper investigations into the equipment on the rice farm at Aveyime in the Volta Region.


Witness explained that the investigators categorised the equipment and based their calculations on relevant documents produced on the items.

Those on trial are, Ibrahim Adam, former Minister of Food and Agriculture (MOFA), Kwame Peprah, former Finance Minister, Dr Samuel Dapaah, Dr George Yankey, Nana Ato Dadzie and Kwesi Ahwoi, all former senior public officials.


They have pleaded not guilty and each of them is on a self-recognisance bail.


Mr Cudjoe agreed to a suggestion that it was the wish of all those involved in the company's affairs that the project should succeed. Witness said his investigations showed that apart from seven million dollars approved by Parliament, subsequent ones were not approved.


He said he received a report on the company from the Federal Bureau of Investigations following a complaint by two directors of the Quality Grain Company Incorporation in the United States (US) that Ms Juliet Renee Woodard (a.k.a. Mrs Juliet Renee Cotton), a director of the company was allegedly spending lavishly, loans guaranteed by the government.


Mr Cudjoe said the directors, one of whom was an uncle of Ms Woodard, found that the government was the "victim" since it guaranteed all loans meant for the project.