Acting MD of Kuapa Kokoo in GH¢4m bail over alleged embezzlement

The acting managing director and the operations manager of Kuapa Kokoo Limited have been granted GH4 million bail by the Asokwa District Court in the Ashanti region.

Trials for conspiracy to steal and suspected theft of GH8.6 million from the cocoa marketing company are currently taking place against Fatima Ali and Abdulai Mahama.

The two accused people were ordered by the Justice Fred Obikyere-presiding court to provide two sureties with one explanation and their travel passports.

The accused persons have been charged with 11 conspiracies to steal and 11 counts of stealing from the coffers of Kuapa Kokoo Limited for depot construction and port expenses when officers at these places had not requested such works or received any amount.

Board Chairman and acting Managing Director, Fatima Ali and Operations Manager, Abdulai Mahama, pleaded not guilty to the charges.

The prosecution, in their opening statement, indicated Kuapa Kokoo Limited since May 2022 has been in a financial crisis leading to the non-payment of commissions for purchasing clerks under the 2021/22 cocoa season.  

The company has neither been able to purchase cocoa from its farmer-members nor paid bonuses for the 2021/2022 cocoa season.  

But, an audit into the financial crisis that befell the cocoa marketing company disclosed financial malfeasance which was spearheaded by the two accused persons.

The audit report concluded that Fatima Ali and Abdulai Mahama misappropriated a total of GH¢ 8,688,940.

Presiding Judge, Justice Fred Obikyere, premised on the alleged amount stolen admitted a bail condition for the accused with justification.

However, defence counsel prayed the court to grant cognizance bail as they assured the presence of the accused person during hearings.

This was rejected by prosecuting Attorney Cecilia Animah Peprah-Takyi, alluding to some accused persons in a similar case against the acting Managing-Director who have absconded.
 
The Second Case

Meanwhile, in another case involving Kuapa Kokoo Cooperative Cocoa Farmers and Marketing Union (KKFU), Fatima Ali and one of three other accused persons have been granted a GH¢1 million bailout.

The two are to present two sureties each with one justification for the third accused person, Luke Antwi who is the Accountant for the Union.

Fatima Ali and the three accused persons are in court for the alleged siphoning of a premium of GH¢1,933,135.04 from the accounts of KKFU to Aya Legacy Limited, a company registered in the name of the fourth accused person – Bernard Yaw Missedja, the Administrator of KKFU.

The court requested that the prosecution served the defence counsel the disclosed materials within 14 days before the next hearing.

The two cases have been adjourned to May 8, 2023.