Fuel fraud: OSP uncovers “secret collusion” between oil companies and state entities

The Office of the Special Prosecutor (OSP) has launched a crackdown on Ghana’s petroleum sector, executing coordinated, court-authorised searches at five major fuel depots and the premises of several Bulk Distribution Companies (BDCs).

The swoop is part of a widening investigation into a sophisticated criminal scheme designed to syphon millions in state revenue through the under-declaration of petroleum imports and the systematic falsification of product types during depot transfers.

Preliminary evidence from the OSP points to a deeply entrenched syndicate involving high-ranking officials within critical state institutions, the OSP said in a release on Tuesday, April 7.

The Special Prosecutor alleges that certain BDCs have been operating in collusion with personnel from:

• The National Petroleum Authority (NPA)
• The Ghana Revenue Authority (GRA)
• The National Security Secretariat

Investigators have also identified the use of intermediaries, middlemen tasked with facilitating illicit financial transfers, to mask the paper trail of the tax evasion scheme.

The OSP confirmed that the search operations were focused on some of the industry’s most prominent players. The entities currently under the investigative spotlight include:

1. Platon Oil and Gas Ltd
2. Sentuo Oil
3. Akwaaba Oil
4. Sahara Oil and Gas Ltd
5. Chase Petroleum Gh. Ltd.

The operation, which took place across multiple locations simultaneously, resulted in the seizure of a vast trove of documents and electronic materials. The OSP has confirmed that several “persons of interest” are already in custody and are assisting with the probe.

The seizure of electronic devices is expected to provide forensic insights into the communications between the BDCs and their alleged accomplices within the state security and revenue apparatus.

While the initial raids have been completed, the OSP warns that the investigation is far from over. The office is currently auditing the seized materials to determine the full scale of the tax evasion and the total loss of revenue to the state.

“Further updates will follow as the investigation reaches its next phase,” the OSP stated.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.