Percival Kofi Akpaloo is the founder of Liberal Party of Ghana
The Attorney General and Minister of Justice, Dr Dominic Ayine, has disclosed that his office will prosecute Percival Akpaloo of the Liberal Party of Ghana (LPG) and related entities following investigations into alleged financial crimes involving a Cocoa Board (COCOBOD) contract.
Speaking at the Government Accountability Series on Monday, December 22, 2025, the AG said the case was triggered after the Financial Intelligence Centre (FIC) flagged suspicious transactions involving an account belonging to Pomaa Universal Ghana Limited at First Bank Ghana Limited.
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“In the case involving Mr Percival Akpaloo of the Liberal Party of Ghana, the Financial Intelligence Centre flagged and filed a suspicious transaction report with First Bank Ghana Limited regarding transactions on an account belonging to Pomaa Universal Ghana Limited. That is a company owned by Ekua Pomaa,” he stated.
He explained that following the filing of the Suspicious Transaction Report, the Economic and Organised Crime Office (EOCO) commenced investigations.
“The investigations revealed that Pomar Universal Ghana Limited, a business entity owned entirely by Ekua Pomaa, was a legitimate contractor awarded a FIDEL Rose contract by COCOBOD. The contract, valued at GH¢29.5 million, was awarded in December 2020,” Dr Ayine said.
According to him, while the project began and an initial payment was properly deposited into the legitimate company’s account, subsequent transactions raised red flags.
“Although the project commenced and an initial amount was properly deposited into Pomar Universal Ghana Limited, subsequent payments raised serious concerns regarding misrepresentation, forgery, and unauthorized handling of the checks,” he noted.
Dr Ayine revealed that investigations uncovered a scheme involving the incorporation of a second company with a deceptively similar name.
“Our investigations revealed that Akpaloo secretly incorporated another company, separate and distinct from Pomaa Universal Ghana Limited, also known as Pomah Universal Ghana Limited, deliberately adding an ‘H’ to the Pomaa name,” he explained.
He stated that between December 2022 and June 2024, Akpaloo allegedly diverted payments meant for the legitimate contractor.
“Between December 2022 and June 2024, Akpaloo collected eight checks issued by COCOBOD in the name of Pomah Universal Ghana Limited, totaling GH¢3,169,432.22 and deposited them into the account of his own company,” Dr Ayine said.
He added that the rightful owner of the original company was unaware of the diversion until COCOBOD raised concerns.
“Our investigations confirmed that Ekua Pomaa was unaware of both the existence of the second company and the diversion of the funds until COCOBOD contacted her in June 2024 regarding outstanding balances on the contract. She subsequently discovered that Akpaloo had misdirected the payments without her consent,” he stated.
Dr Ayine further disclosed allegations of forgery connected to the contract.
“Ekua Pomaa also alleged that Akpaloo forged her signature on the COCOBOD contract using her former name, Mercy Owusu, to secure the agreement without her authorization,” he said.
According to the Attorney-General, internal investigations by First Bank Ghana Limited corroborated the findings.
“First Bank Ghana Limited conducted an internal investigation and confirmed the fraud allegations, concluding that Akpaloo knowingly misrepresented ownership of the checks and deposited them into the wrong account,” he added, noting that the bank also acknowledged operational failures.
Dr Ayine named the suspects involved in the case.
“The suspects investigated are Percival Kofi Akpaloo, Pomar Ghana Limited (the one with the H), and Delvin Akpaloo, his wife,” he stated, adding that evidence points to multiple criminal offences.
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“The evidence shows that they engaged in various criminal offenses, including stealing, forgery, and money laundering, and they will be charged by my office upon resumption of work after the Christmas holidays,” he said.
MAG/MA
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Source:
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