The Truth About How VRA Lost ?14 Billion

Sources inside the VRA are insisting that the authority lost more than ?14 billion in fraudulent penalty payments to Sahara.

The allegation made by persons who were employees of Sahara at the relevant time and had direct and documentary evidence in support of it was placed before the VRA Board Committee.

The evidence established quite clearly that Ghana’s claim of the US $1.7 million was at best suspicious.

It said the US $1.7 million amount was made up of US $1.03,300 Cancellation Penalty and US $695.445, demurrage. No cancellation took place before during or after March 2002 as claimed by Sahara and no valid documentation had been produced by them to support this claim, because non exists.

Polembrose, whose vessel, the MT. ATLAS was supposed to have been the cause of the cancellation will testify to the falsehood, the paper said.