Kufuor blew Eurobond cash to end son's poverty

It has emerged that whilst former President John Agyekum Kufuor was describing Ghanaians who complained of economic hardships under his government as lazy people, his government was busy eradicating t he poverty of one of his children, by blowing billions of EUROBOND cash on him.

Edward Agyekum Kufuor’s company, Aces Company Limited was the beneficiary of about $2 million from the Ministry of Energy, for the supply of prepaid electricity meters in 2007, soon after the sovereign EUROBOND cash arrived.

In 2007, Edward Agyekum Kufuor and his wife Renee Jackson Kufuor, escaped from their financial troubles in the US after they filed for voluntary bankruptcy following their inability to pay mounting debts which crippled the couple financially.

The multi-billion-cedi contract itself was not without controversy. A bitter dispute ensued between Edward Agyekum and his business partner, which saw the former president’s son commandeering a battalion of armed security personnel to raid his partner’s home and also hijacked his wife, who was driving on his way home.

The timing of the about $2 million contract to the president’s son’s company led to obvious speculation within the Kufuor government, with insiders speculating that it was meant to be a resettlement package for the son, who was struggling in the U.S.

History of bankruptcy October 5, 2000: it was three months away from Mr. John Agyekum Kufuor being crowned President of Ghana. But one of his sons, Edward Kufuor, now a billionaire and his African American wife, Renee Jackson Kufuor, were facing an embarrassing financial crisis forcing them to appear before a US Court to file for voluntary bankruptcy. Together, the couple owned up to about 49 creditors in a combined debt of about $50,000. The couple was so broke that they could not even pay for the $600 wedding ring Edward Kufuor used to marry his wife. The other bills included telephone, medical bills, books, magazines, credit card, insurance, clothing, household goods and a whole lot of other items.

Bankruptcy is a legal proceeding in the US where people who cannot pay their bills file a case in a bankruptcy court to immediately stop all their creditors from seeking to collect debts from them. Under chapter 7 of the US Federal Bankruptcy Law, a petitioner asks the court to discharge them from their debts.

By 2001, a company called Four Our Seed, LLC, registered in the State of Louisiana, which lists Edward Kufuor and one Philip Britton as owners was rendered “Not Active”. The company could not even file their annual report, until their license to conduct business was eventually revoked on November 18, 2005.

In 2002, another company called News Stars International Group, LLC also owned by Edward Kufuor, Kendris Brumfield and Irvin Robins and registered in the State of Louisiana also became “Not Active” by October 15, 2002. On March 21, 2003, the company collapsed and was dissolved.

On May 21, 2002 another company RJ Quest International, LLC, registered in the State of Louisiana by both Edward Kufuor and Kendris Brumfield with the duo as shareholders and managers became “Not Active” and eventually had its license revoked by Louisiana Secretary of State on September 15, 2006.

On August 29, 2004, another company owned by Edward Kufuor and his Black American wife Renee Jackson Kufuor called NANABA LLC, also became “Not Active” The Louisiana Secretary of State revoked the company’s license on November 16, 2007. Nanaba, is an Akan word which means the ‘King’s son’.

Earlier in May 2007, two properties owned by the ‘King’s Son’, Edward Kufuor and his wife Renee Jackson Kufuor, were seized by a Civil Court of the Parish of new Orleans in a civil case entitled Omni Bank Vrs. Edward Kufuor and Renee Jackson Kufuor. The District Sheriff in the Parish said he sold the two properties belonging to Edward and Renee Kufuor “by virtue of a writ of seizure and sale to me directed by the Honourable, The Civil District Court of New Orleans”.

The Sheriff said he proceeded to sell the properties by public auction “On the ground floor of the Civil District Court building, 421, Loyola Avenue, on Monday 3, 2007, at 12 O’clock” to recover an amount of One hundred and Eighty thousand, Five Hundred and Twenty Four dollars, Twenty Four Cents ($180,524).

It was in the midst of this crisis that Edward Kufuor and his American wife left the United States and relocated to Ghana, where EUROBOND cash was used to eradicate their financial troubles.