A prosecution witness on Thursday denied a suggestion by defence counsel that he deliberately gave evidence to disgrace six accused persons, including two former Ministers of State, who are being tried in the Quality Grain case.
Mr Theophilus Cudjoe, Deputy Executive Director (Investigations) of the Serious Fraud Office (SFO), told the Fast Track Court that the evidence he had given was based on investigations he conducted into the operations of Quality Grain Company.
Mr Cudjoe, a prosecution star witness, who was being cross-examined by Mr Samuel Kodjoe, counsel for Ibrahim Adam, first accused, said he had tendered all relevant documents to buttress his evidence.
Witness said he was asked to investigate the company after it contracted a seven million-dollar loan from the Ghana Government, adding that he did not initially know that various loans had been guaranteed for it to establish a rice project at Aveyime in the Volta Region.
He said his findings showed that the company spent 4.8 million dollars out of the seven million-dollar loan for the purchase of equipment.
Mr Cudjoe said there were documents covering the cost and importation of the equipment, including rice mill and silos from the United States (US).
Witness said during investigations he detected that there were additional loans granted but which were not being utilised for the purpose for which they were meant.
The other accused persons are Mr Ibrahim Adam, former Minister of Food and Agriculture (MOFA), Mr Kwame Peprah, former Finance Minister, Dr Samuel Dapaah, Dr George Yankey, Nana Ato Dadzie and Mr Kwesi Ahwoi, all former senior public officials.
They have pleaded not guilty to conspiracy and wilfully causing financial loss to the state. Each of them is on a self-recognisance bail.
Mr Cudjoe denied a suggestion that the company was functioning but ceased to operate after he had submitted his findings in December 1998.
Witness explained that his investigations showed that there was no production from 1997 to 1999, adding that the company produced 4,000 bags of rice after it had obtained a 50 million cedis loan for harvesting in 2000.
He said his findings also showed that proceeds from the sale of rice were sent to Ms Juliet Renee Woodard, Managing Director of the company, in the U.S.
Mr Cudjoe said that, as at the end of 1999, the company had not produced rice in "commercial quantities" to enable it to repay the 21 million dollars loan granted to it.
Hearing continues on Monday, October 22.
