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Massive Corruption, Money Laundering Hits COCOBOD as CEO award Billions in Contracts to His Son

Documents Intercepted from the Financial Intelligence Centre, reveals high standards of corruption, nepotism and money laundering being perpetuated at Ghana Cocoa Board.

The documents which were sent to the Office of the Special Prosector, were findings after investigations into contracts awarded to a newly formed company, Agri-Plus Horizon Farm Limited.

The investigations revealed that Agri-Plus Horizon Farm Limited was awarded a contract for the supply of 75,000 litres of Transform Akate Insecticide at a price of US$103.5 per litre amounting to a total of US$7,762,500.00. This contract was sole sourced to the company through the beleaguered Public Procurement Authority.

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Agri-Plus Horizon Farm Limited also sub-contracted the contract at US$80.80357 to Aedis Holding Limited (AEDIS), a company owned by one Joseph Seth Aidoo Jnr, believed to be the son of the Chief Executive Officer of COCOBOD, Mr Joseph Aidoo.

AEDIS also further subcontracted Dow Agrosciences Limited (DOW) Limited, a company based in UK to supply the said insecticide.

The report concludes, that the decision to contract Agri-Plus was “founded on the grounds of nepotism and/or trade based money laundering”.

The report further reveals that the son of the COCOBOD CEO, Joseph Seth Aidoo Jnr is a signatory to the Ecobank Accounts of Agri-Plus, which was created on 1st August, 2017.

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“Analysis of the Agri-Plus Accounts revealed that from October 2018 till May 2019, credits on Cedi account number 0010264510635401 were as indicated in table 2 below, including GH35,982,390.48 from Ghana Cocoa Board”.

The further reveals huge sums of monies accumulated in the various accounts of the company, both Cedi and Dollar accounts.

find the report below;

Source: Ghananewspress.com

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