There has been alleged acts of financial impropriety by authorities of one of the best boys schools, Presbyterian Boys? Secondary School (PRESEC), Legon amounting to the tune of ?4 billion, reports the Public Agenda newspaper.

Accordingly, a five member investigative committee comprising the Chief Internal Auditor, GES headquarters, Konadu Antwi, CHASS regional chairman and Headmaster of Accra Academy, Ofori Agyei, regional internal Auditor, GES (Accra), Osei Kwadwo, GES regional accountant Mr Peasah and secretary to the committee Eva Awumey have been constituted by the Ga-East District Director of education.

The committee has been tasked to look into the activities of the headmaster of the school, J.J Asare and the school?s principal bursar Sampong Gyeni.

The committee will soon make its findings public.

The investigations follow a petition by some concerned teachers and workers of the school.

Copies of the petition dated November 21, 2005 was sent to Ga East District Coordinator of Education, the Director General of the GES, the Commissioner of CHRAJ, Director of SFO and the Moderator of the Presbyterian Church.

The aggrieved workers are asking the GES and the education minister to immediately relieve the headmaster and the bursar of their post in order to save PRESEC from total collapse.

The headmaster and the bursar are alleged to have connived and misappropriated close to ?4 billion from the school?s accounts over a period of eight years.

The headmaster flatly refused to comment on the issue when he was contacted saying they are waiting for the committee to complete its investigations.