A high-profile case involving Percival Kofi Akpaloo, a member of Ghana’s Liberal Party, has rocked the nation. Akpaloo allegedly embezzled over Ghs3 million meant for a COCOBOD feeder road contract awarded to Pomaa Universal (Gh.) Ltd, owned by Akua Pomaa.
The scam came to light after the Financial Intelligence Centre (FIC) flagged suspicious transactions on an account belonging to Pomaah Universal (Gh.) Ltd, a company secretly incorporated by Akpaloo, which was designed to closely resemble Pomaa’s company. The Economic and Organized Crime Office (EOCO) launched an investigation, revealing that Akpaloo had collected eight cheques issued by COCOBOD, totaling Ghs3,169,432.22, and deposited them into his company’s account at First Bank Ghana.
Akua Pomaa claimed she was unaware of the existence of Pomaah Universal (Gh.) Ltd and the diversion of funds until COCOBOD contacted her about outstanding balances on the contract. She also alleged that Akpaloo forged her signature on the COCOBOD contract using her former name, Mercy Owusu.
First Bank Ghana’s internal investigation supported the fraud allegations, concluding that Akpaloo knowingly misrepresented ownership of the cheques. The bank acknowledged operational failures in detecting discrepancies between cheque payee names and account numbers.
Akpaloo, his company Pomaah Universal (Gh.) Ltd, and his spouse Delvine Akpaloo are facing charges of stealing, forgery, and money laundering. They will appear in court in January .