Ghana Loses $48 Million

As TOR Pays Phony-Oil Company

And Causes Financial Loss To State

Whilst Sahara Oil Hides Yvette Ayele

The government of Ghana has lost an amount of US$48 Million to a phony company that succeeded in tricking the country’s only oil refinery, into paying this whooping amount into a bank account, for no work done.

Tema Oil Refinery (TOR) fell to the pranks of this phony company which impersonated Petroplus Holdings, a leading name in the oil industry in Europe, and committed the payment of US$48 million to a lady by name Yvette Ayele, a Marketing Officer at Sahara Group.

By using the logo of Petroplus, the European independent refinery and dealer in petroleum products, Yvette Ayele Foli and her group succeeded in convincing TOR into believing that it had supplied crude oil to a consortium of middlemen who had negotiated with TOR and thereby got TOR to make the payment accordingly. Surprisingly, TOR refused to cross-check Yvette Ayele Foli’s claim with the consortium but hurriedly wired the US$48 million to her company Refinee Petroplus, which had the logo of the internationally recognized Petroplus, based in Switzerland, nicely embossed on the fake-letter. This scheme consequently convinced the management and Board of Directors of TOR into believing the claim and then wired the US$48 million.

Beneath the stolen logo was a fake address: “P.O. Box 146 Zug – Switzerland”, diabolically done to outwit the Managers at TOR into believing the claim of Yvette Ayele’s company.

The consequences of the payment is that the consortium that had been dealing with TOR on that crude oil supply, showed up for their money, after delivery, only to be told that TOR had paid a ‘Refinee Petroplus’ company which claimed ownership of the consignment. This development was in sharp contrast to events which preceded the lifting and discharging of the 48 million worth of crude, via ‘M/T Vergina II’ shipping vessel, which by TOR’s insistence had been contracted by the consortium to lift the crude.

TOR prior to the discharge of the crude, had on July 22, 2010 written to BRAMITX KNOWELX Company Limited, which the consortium of middlemen had arranged as the company to receive the payment. TOR in that letter also published alongside this story, confirmed the usage of the Vessel VERGINA II and gave further information on the Q88, at the time. This among many others took place in less than a month before the ship will disembark in Tema and discharge the crude. The Informer has seen overwhelming evidence that TOR through its Acting Managing Director, Mr. Ato Ampiah, Mr. W.A. Wadee and Dr. Doku were busily engaging the consortium of oil dealers, on this transaction, only for TOR to turn around and pay US$48 million to a phony company.

Since the vessel anchored and the consignment was discharged on August 20, last year, all efforts by the consortium to get paid have failed, all because there was an Yvette Ayele Foli’s Petroplus, double crossing the original TOR partners, at the last minute.

Shockingly, the TOR Managers who have been clearly beaten in this deal, are the ones defending Yvette Ayele Foli’s Petroplus. Till date, no official of the newly established, logo stolen cum faked-addressed Petroplus, has shown up at the offices of the National Security or the Bureau of National Investigations (BNI) which are investigating this matter of huge financial ramifications. Not even the arrest of this Yvette Ayele Foli, from Sahara Oil, following a complaint lodged by the consortium that led the transaction, will make the directors of Refinee Petroplus show up to defend their receipt of the payment by TOR. As a result of this, TOR’s executives are the ones currently explaining and defending the appearance of Refinee Petroplus, in the transaction. At the time of going to press, all attempts to directly reach the Directors of ‘Refinee Petroplus’ had failed.

Meanwhile, Sahara Oil, which is hugely suspected of being behind the phony ‘Refinee Petroplus,’ yesterday removed the picture of Madam Yvette Ayele, its Marketing Officeer, from its official website.

Yvette who was the first personality on the site containing the pictures and names of Sahara’s executives had her picture taken-off, clearly in reaction to the scandal that is about to rock her name and involvement in the payment of US$48 million to a yet to be identified Refinee Petroplus.

Petroplus is Europe's leading independent refiner and wholesaler of petroleum products. According to the company a broad variety of fuels are produced and distributed every day by almost 3,000 employees throughout Europe and has no business with African countries or organisations.

All checks by Ghanaian journalists to prove the genuineness of the payment by TOR to Refinee Petroplus, which claim to be the local representatives of Petroplus Holdings, have proven negative. Calls to Petroplus office in Zurich resulted in the company denying doing business in Africa and consequently snubbed the possibility of supplying crude, directly or indirectly to TOR. As a matter fact, Petroplus Holdings denies having representatives in Africa. Stay Tuned.

More Annon on ‘P.O. Box 146 Zug – Switzerland’.