One Billion Cedi Fraud Lands Accountant in Court

James Amarteifio an accountant is in the grips of the law for allegedly stealing over one billion cedis between 2001 and 2005 belonging to A and B Targets limited.

According to the facts available to Circuit Court one of the 28th February Crossroad, the accused was an accountant and manager of the company which is a distributor of the products of Lever Brothers Limited and Nestle Ghana Limited

The complainant is the Director of the company and a footballer currently based in Turkey were he plays football. In 2005 the director returned to Ghana and conducted an audit, after which detected that the accused had embezzled about ¢145 million belonging to the company.

The director subsequently dismissed the accountant and contracted external auditors to audit the company between the periods 2001 to 2005 when the accused was in charge of the affairs of the company.

After the auditors had completed their work it was detected that an amount of over one billion could not be accounted for. The company's Secretary wrote a letter to the accused and he replied by pleading for forgiveness and also alleged that most of the money was in debt.

Not satisfied with the reasons being given by the accused, the director of the company reported the case to the Kaneshie Police who arrested the accused and after interrogation charged him with the offence of stealing.

The Presiding Judge, Justice Iddrisu Mahammadu adjourned the case for the accused to reappear at a later date.