KUFUOR’S BANKRUPT SON TURN’S OVERNIGHT BILLIONAIRE -Part I

Special report by Raymond Archer

The journey from bankruptcy and rags to riches, stretches a million miles. Sometimes, it’s a lifetime journey. But when you have the right name as Edward Agyekum Kufuor, and your father is John Agyekum Kufuor, President of the republic of Ghana, that journey can be covered overnight.

October 5, 2000. It was three months away from Mr. John Agyekum Kufuor being crowned President of Ghana. But one of his sons, Edward Kufuor, now a billionaire and his Black American wife Renee Jackson Kufuor were facing an embarrassing financial crises forcing them to appear before a US Court for voluntary bankruptcy.

Together, the couple owed up to about 49 creditors in a combined debt of about $50,000. The couple were so broke that they could not even pay for the $600 wedding ring Edward Kufuor used to marry his wife. The other bills included telephone, medical bills, books, magazines, credit card, insurance, clothings, household goods and whole lot of items.

Bankruptcy is a legal proceeding in which people who cannot pay their bills file a case in a bankruptcy court to immediately stop all their creditors from seeking to collect debts from them. Under chapter 7 of the US Federal Bankruptcy Law, a petitioner asks the court to discharge them from their debts.

By 2001, a company called Four Our Seed, LLC, registered in the State of Louisiana which lists Edward Kufuor and one Philip Britton as owners was rendered “Not Active”. The company could not even file their annual report, until their license to conduct business was eventually revoked on November 18, 2005.

In 2002, another company called News Stars International Group, LLC also owned by Edward Kufuor, Kendris Brumfield and Irvin Robins and registered in the State of Louisiana also became “Not Active” by October 15, 2002. On March 21, 2003, the company collapsed and was dissolved

On May 21, 2002 another company RJ Quest International, LLC, registered in the State of Louisiana by both Edward Kufuor and Kendris Brumfield with the duo as shareholders and managers became “Not Active” and eventually had its license revoked by Louisiana Secretary of State on September 15, 2006.

In August 29, 2004, another company owned by Edward Kufuor and his Black American wife Renee Jackson Kufuor called NANABA LLC, also became “Not Active” The Louisiana Secretary of State revoked the company’s license on November 16, 2007. Nanaba in an Akan word which means the ‘King’s son’.

Earlier in May 2007, two properties owned by the ‘King’s Son’, Edward Kufuor and his wife Renee Jackson Kufuor, was seized by a Civil Court of the Parish of New Orleans in a civil case entitled Omni Bank Vrs. Edward Kufuor and Renee Jackson Kufuor Kufuor.

The District Sheriff in the Parish said he sold the two properties belonging to Edward and Renee Kufuor “by virtue of a writ of seizure and sale to me directed by the Honorable, The Civil District Court of New Orleans”

The Sheriff Said he proceeded to sell the properties by public auction “On the ground floor of the Civil District Court building, 421, Loyola Avenue, on May 3, 2007, at 12 O’clock” to recover an amount of One Hundred and Eighty Thousand, Five Hundred and Twenty Four dollars, Twenty Four Cents ($180,524)

In the midst of this crisis, the “King’s Son” Edward Kufuor and his American wife left the United States and moved to Ghana, where his father is really a KING-President of the Republic of Ghana.

Just when they arrived in Ghana in 2007, the President’s son was given a nice resettlement package, sponsored by the Ghanaian tax payer which turned him into an overnight billionaire.

In that year, the Electricity Company of Ghana, awarded a $1.4 million contract to his company, Aces Company Limited to supply pre-paid meters. The President’s son supplied the meters from China. This sweetheart deal brought smiles to the faces of Renee Jackson and her husband Edward Agyekum Kufuor. Stay Tuned.