Legal proceedings have been set in motion as Sylvester Shamatey, a businessman, and Priscilla, a trader, find themselves in court, facing charges of fraudulent appropriation of GH₵1,007,509 belonging to OLAM Ghana Limited, a well-known company.
According to a report from Graphic.com.gh, the accused duo is alleged to have engaged in activities leading to the acquisition of assets, including vehicles and land, as well as involvement in forex trading gambling.
The charges against the pair encompass conspiracy to commit a crime, theft, and money laundering. Despite the charges, both Sylvester and Priscilla have entered pleas of not guilty.
Presiding over the case, Judge Evelyn Asamoah granted bail to the accused, setting the amount at GH₵500,000 each.
Additionally, the court stipulated that two sureties are to be provided for each accused, and these sureties must prove ownership of landed property exceeding the alleged misappropriated sum.
The court further demanded that the title deeds of these properties be officially stamped and registered.
Assistant Superintendent of Police (ASP) Emmanuel Haligah, leading the prosecution, detailed that Leeford Grant, the complainant, holds the position of sales manager at Nutrifoods (OLAM) Ghana Limited.
Notably, Sylvester, one of the accused, was previously employed by OLAM Ghana and had served in its Sales Department.
As part of the narrative, Sylvester established Accomplished Trading Enterprise, entrusting its management to Priscilla.
The allegations revolve around the accused parties receiving goods, specifically biscuits valued at GH₵1,007,509, with the understanding that they would be sold and the proceeds remitted to the complainant. This promise, however, remains unfulfilled.
The case emerged on April 11, 2023, when the complainant lodged a report with the Criminal Investigation Department (CID) of the Ghana Police Service, asserting that the accused individuals had sold products but diverted the generated income.
Subsequent investigations unearthed evidence supporting the diversion of proceeds. It was revealed that the funds were utilized for various purposes, including the acquisition of motor vehicles.
Moreover, Priscilla directed a significant portion of the funds toward forex trading, specifically in the context of gambling.
The court documents substantiate the recovery and seizure of the implicated vehicles: a Hyundai Tucson (GT8556-22), a VW Mini Van (GN 2115-18), a TATA Truck (GC2982-10), and a MAN Diesel Truck (GS1799-16).
While the defendants acknowledged their debt to the complainant, the precise reconciliation of records to determine the exact sum remains pending, as the prosecution continues to build its case.
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