Two in court for money laundering, stealing GH¢1,007,509

Two persons who allegedly dishonestly appropriated GH¢1,007,509 cedis belonging to OLAM Ghana Limited have appeared before an Accra Circuit Court.

Sylvester Shamatey, a businessman, and Priscilla, a trader, are alleged to have used the proceeds of their activities to purchase four vehicles and a parcel of land and engaged in gambling (forex trading).

Charged with conspiracy to commit a crime, to wit, stealing, stealing, and money laundering, the accused persons have pleaded not guilty.

The court presided over by Mrs Evelyn Asamoah admitted them to bail in the sum of GHC500,000 each with two sureties. One of each surety is to be justified with landed property.

It said the value of property should not be less than the amount involved.

Additionally, the court said the title deed of the properties must be duly stamped and registered.

Prosecution led by Assistant Superintendent of Police (ASP) Emmanuel Haligah said the complainant Leeford Grant is a sales manager of Nutrifoods (OLAM) Ghana Limited.

Prosecution said Sylvester was an employee of the OLAM Ghana who worked at the Sales Department of the same company.

It said Sylvester established a business called Accomplished Trading Enterprise and handed it over to Priscilla to manage.

Prosecution said the accused persons took delivery of goods (biscuits) worth GHC1,007,509 under the pretext of selling and returning the proceeds to the complainant but failed to do so.

The prosecutor said on April 11, 2023, the complainant petitioned the Director General of the Criminal Investigation Department (CID) of the Ghana Police Service that accused persons sold products worth GHC1,007,509 but misappropriated the proceeds.

It said the accused persons were arrested and during investigations it turned out that they had sold the products and misappropriated the proceeds of the sales.

Prosecution said the accused person used the proceeds of the sales to purchase land vehicles.

“Further investigations also revealed that Priscilla used chunk of the money to engage in gambling thus forex trading.”

Prosecution said the four vehicle, Hyundai Tucson with registration number GT8556-22, VW Mini Van with registration number GN 2115-18, TATA Truck with registration number GC2982-10 and a MAN Diesel Truck with registration number GS1799-16 were retrieved and impounded.

It said the accused persons admitted having owed the complainant but that they were yet to reconcile their records to know the exact figure.