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General News of Thursday, 18 October 2007

Source: Enquirer

How Bartels' Daughter Blew The Billions

Sheila Bartels, Nana Ayitey Sam and Miss. Juliet Rence Cotton share a common character, they all took government money and blew it. Sheila Bartels took billions of monies donated by the US government to assist Ghanaian businesses and blew it. JR Cotton took money guaranteed by Ghana government and also blew it.

JR Cotton blew some of the money on churches and told his congregation, "The Lord is Good" Sheila Bartels also blew the money on two churches in the name of a "covenant with God"

Sheila Bartels and her hubby spent the rest of the billions which had been allocated to their company Platinum Technologies Ltd by the Ministry of Finance on buying cars, paying themselves in dollars, making double payments, buying expensive plane tickets, making donations, and even charging their own company for supervising work.


When Platinum Technology received money from the US government funded Trade and Investment Programme in Ghana, a large chunk of the money which was to be paid directly to suppliers by General Leasing found its way into the company's corporate account.

The money was then blown under very bizarre circumstances.

On 14th May, 2005, few weeks after the money was paid to Platinum Technologies' company account, Sheila Bartels wrote the most outrageous memo to the company's accountant.

"I would like to inform you that the second batch of payment for our working capital has been paid to the company in the sum of ?524 million after bank charges and deductions. As per the covenant between GOD and the company, we are submitting our tithes of 10% (?52m) to the following missions: Prayer of Hope Ministry ?35m, Global Revival Ministries: ?10 million. The remaining ?7m will be held in our (Sheila and Nana) account until it is deemed necessary".

According to investigations, between May when they received the money and August 2005 alone, Sheila Bartels and her husband had made donations up to about ?167 million.

Further investigations revealed that Shiella?s hubby is hoping to be a pastor in one of the churches.

On October 6, 2005, five months after they received the money, Sheila Bartels, acting as Administrative Manager wrote a memo to the accountant and copied it to her husband, Nana Ayitey Sam saying that from hence forth, they were to be paid in Dollars.

"Below is the list of staff and their monthly salaries due them. Sheila Bartels Sam $1,500 and Nana Ayitey Sam: $2,000. Please process for payment". This was done and the couple started earning dollars working with a company who until they received the money had ceased operations and was so broke.

The salaries of Sheila Bartels and her husband Nana Sam Bartels from May when they got the facility to October was about ?118, 356, 00 million. Enter, Nana Ayitey Sam, acting as Operations Manager. On the same day, October 6, 2005 when his wife asked to be paid dollars, he also wrote another shocking memo to his wife Sheila and copied to the company's accountant under the heading "Payment for Supervision of Ghana House Space.

The memo read "This is to inform you that the office space at the Ghana Multimedia Center, Ghana House has been completed after a little over three months. I am therefore writing to let you know that the company owes me for the role I played in getting the place together. My charge is ?20 million for the three months that I spent on the job in getting the place ready."

Sheila Bartels on the same day minuted on the memo and instructed the account to process her husband?s memo payment. This was done.

Then came August, 5, 2005, another ?10 million was taken out of the company's account to pay for a BMW car.

On September 19, a plane ticket was purchased for the couple to travel. But Sheila and her husband Nana Sam refused to accept the said ticket and insisted that an entirely new ticket be purchased for them. Investigations reveal that Nana Ayitey Sam approved another ?12 million to buy a new ticket.

Foreign Travels of Sheila Bartels and her Husband Nana Sam amounted to about ?35 million.

On May 19,May, 2005, General Leasing paid a company called Stepmen Furniture Center rumoured to be owned by a good friend of Kwamena Bartels to supply Platinum Technologies 30 Units of computer Tables and Office Desk/Conference Tables.

ON the same day, May 19, 2005, General Leasing again approved another payment of ?60 million to another company called Asbax Ghana Ltd, owned by Silvia Bartels, another daughter of Kwamena Bartels. The payment followed a pro-forma invoice from Asbax to supply Office Desk, Computer Tables and Conference Tables.

Incidentally it was the transaction that Stepmen Furniture was paid to undertake.

Interestingly, investigations of the bank statements of the two companies (Platinum Technologies and Asbax Ltd) revealed that, when General leasing paid the money, Asbax re-transferred the money back to Platinum Technologies.

Similarly, the loan account of the company and the current account of Sheila and her husband, Nana Sam swallowed ?70, 770,000 million.

These reckless spending went on until the cash was completely blown. The company was so broke that Kwamena Bartels himself was compelled to issue an 18 million cedi check to the company to enable them pay their bills The company was so broke that they could not pay back the facility resulting in a chase from General Leasing.