Kudjeson Ordered To Repay USD67,000

FOR DEFRAUDING KASAPA (FORMERLY CELTEL)

The Accra Fast Track Court ordered Prince Kofi Kudjeson to pay a USD67,000 back to Kasapa (formerly Celtel). Formerly a director of the company, Kudjeson was responsible for defrauding it of USD400,000. He is currently the President of the Association of Ghana Industries.

According to Kasapa's Council Kudjeson (and his company Kudjeson International who were both minority shareholders in Kasapa) put together an elaborate plan to make an illegal profit from Kasapa through "subterfuge, tricks of gargantuan prportions and in fraudulent breach of their duties." The scam involved setting up a a phantom company (Inter Ideal Ltd) to win a contract to supply generator sets to Kasapa in 1999. Kasapa's majority shareholder in Hong Kong was consequently misled and hoodwinked to transfer to Ghana USD509,274 meant to buy the generator sets from the non-existent Inter Idea Ltd. Kudjeson ultimately paid the money into other accounts in Ghana and California for his own personal use. Only two of the 24 generator sets ordered were ever installed. Kasapa's Managing Director Robert Palitz said:"We intend to vigorously pursue collection of the amounts awarded (by the the court). The Judge hinted that he might make further consequential orders when he delivers the reasons for his judgement in December this year. (Ghanaian Chronicle)