...Caught In Another $400,000 Deal

Jailed MP for Keta Dan Abodakpi may soon be headed for the courts again over what is coming out as another US$400,000 financial loss to the state when he was Deputy Minister for Trade and Industry in 1996.

Documents in the possession of GO reveal that on 28th November, 1996, Dan Abodapki, in his capacity as Deputy Minister of Trade and Industry, and a member of the board of the Divestiture Implementation Committee (DIC) ordered Mr. E.A. Agbodo, the DIC's Executive Secretary, to contribute some money to help a company named Goldshield Contact Services Limited, a Ghanaian owned London-based private company to set up a private office in Kuala Lumpur, Malaysia, in furtherance of Trade and Investment Promotion.

Sources at the Attorney-General`s Department say that in respect of this transaction, a prima facie case has been established against Dan Abodakpi since January, 2002 when a forensic audit report was submitted to Government.

GO has found out through further prying that Abodakpi may soon be headed back to the courts to answer questions as to why he instructed the Executive Secretary of the DIC to contribute to what was clearly a private business`s ambition to set up offices in Kualar Lumpur with proceeds from the divestiture of state enterprises.

Goldshield Services had a certain Ruben Atekpe, a Ghanaian, as a Director and had its registered office at St. Alphage House, 2 Fore Street, London. EC2Y 5DH.

Ongoing investigations by GO into the business relations between Abodakpi, Agbodo, Atekpe and DIC reveal a maze of byzantine deals which may have serious implications for Ghana`s divestiture programme and how the money accruing were spent.

Abodakpi`s letter to E. A. Agbodo, which was written on a Ministry of Trade and Industry official letter head and dated 28th November, 1996 read thus:

Dear Mr. Agbodo,

As you are aware, Goldshield Contact Services Limited, has been mandated to co-ordinate Trade and Investment Promotion activities for certain south-east Asian nations, including Malaysia, Indonesia and Singapore.

In pursuance of this objective, Goldshield is to establish an office in Kuala Lumpur, Malaysia to service the region. As you are no doubt aware, the Divestiture Implementation Committee`s work has been greatly facilitated in south-east Asia by Goldshield Services.

Consequently, it is requested that the DIC should contribute towards the operational cost of Goldshield Services in the region for the last three years, which we are advised, runs into over half a million dollars, and also assist in the setting up of a permanent office in Kuala Lumpur. (See page 15 for copies of documents)

On December 2, 1996, (four days after Abodakpi signed the letter) Agbodo, as Executive Secretary of DIC, minuted thus on the letter to one R. Nana Akuffo (an Accountant at the DIC then):

`Nana, Please arrange transfer of US$400,000 to the account of Goldshield.`

Of course, R. Nana Akuffo and E.A. Agbodo in a fast track manner on the same December 2, 1996 signed and issued a payment order with reference number DIC/1/1/248 to the Assistant Director of the Banking Department of the Bank of Ghana in the following words:

REQUEST TO MAKE PAYMENT

Please make the following payment and debit our US Dollar Account No. (36-6205)-2113200005 held by (sic) your branch with the amount and your charges.

1.PAYEE : Goldshield Contact Services Limited

2.AMOUNT: $400,000.00 (Four hundred thousand dollars only)

3.BANK: Barclays Bank Plc, Broadgate Business Centre155 Bishopgate London EC2M 3XA

Account No: 86824900 Sorting Code: 20-77-67

4.REASONS: Being promotion of trade and investment activities in South-east Asian nations

We are counting on your usual co-operations.

Yours faithfully