30 August 2017

RE: Scandal rocks  EOCO over”MISSING” GH¢2.7m

The attention of the Economic and Organised Crime Office (EOCO} has been drawn to a publication captioned above on StarrFMonline.com on 24th August 2017 indicating this Office that over “Gh02.7million is missing from the body’s accounts.”

This allegation is totally false and unfounded.

The facts are that on 14th February, 2012 EOCO commenced investigations into the activities of a company called ASAMAN MULTIMEDIA (AM). In the course of the investigation, this Office, under section 24 of Act 804, 2010 applied to an Accra High Court to seize and transfer the funds in the account of this company.

The high Court granted the application and ordered that any amount in that account be transferred into the EOCO Exhibit Account with Bank of Ghana.

The order was complied with and Barclays Bank, the bankers of AM also transferred the money into EOCO Exhibit Account.

The accounts were two — Ghana Cedi and United States Dollar account. The Cedi account had Ghs646, 188.35 therein while the dollar account had US$986.024.16.

These amounts were consequently lodged into EOCO’s Exhibit Account with Bank of Ghana.

On 27th March, 2013, lawyers for ASAMAN MULTIMEDIA filed an application for discharge at the Commercial Court (High Court) Accra.

The application was granted by the Court. Consequently, the Bank of Ghana on 30th April, 2O13 transferred the same amounts of GH¢646.188.35 and US$986.024.16 from the EOCO Exhibit Account to Barclays Bank accounts of ASAMAN MULTIMEDIA. (Exhibits attached).

The transfer has not occasioned any loss to ASAMAN MULTIMEDIA, nor EOCO.

This same matter was investigated by the Bureau of National Investigations (BNI) in 2016; and it concluded that Bank of Ghana was carrying out the Court order of 27th March, 2013 which transferred the Gh¢646.188.35 and US$986.024.16 to ASAMAN MULTIMEDIA accounts a Barclays Bank.

It is therefore never true that US$366,985.00 was transferred from AM’s account with Barclays Bank to EOCO Exhibit Account with Bank of Ghana. It was rather US$986.024.16.

It was unfortunate that the Court directed the transfer of US$366,985.00 when the amount was US$986 024.16.

Indeed there is nothing to be refunded by EOCO. ASAMAN MULTIMEDIA received the entire amount seized and transferred from their accounts with Barclays Bank to EOCO Exhibit Account with Bank of Ghana.

There is therefore no GH¢million  outstanding in this transaction.

With respect to the publication on UNEARNED SALARIES, the Auditor-General in its 2015 Auditor-General’s report for the year 2014 mentioned Twenty-Two Thousand, Sixtv-Seven Ghana Cedis, Seventy-Eight pesewas (GH¢22,067.78). This amount was paid to staff who had retired, died or resigned from EOCO.

EOCO retrieved Thirteen Thousand, Five Hundred and Ninety-One Ghana Cedis., Ninety-Two Pesewas (GH¢13,591.92) leaving a balance of Eight Thousand, Four Hundred and Seventy-Five Ghana Cedis, Eighty-Six Pesewas (GH¢8,475.86). This has been referred for a collaborative exercise with the Police to retrieve the amount outstanding.



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