Adu-Boahene Arrest: AG Discloses Houses Akufo-Addo Appointee Allegedly Bought With Looted Funds
- The Attorney General disclosed the properties Kwabena Adu-Boahene allegedly used to launder stolen state funds
- Adu Boahene has been accused of embezzling $7 million meant for a defence contract at the National Signals Bureau
- Investigations linked Adu-Boahene to multiple properties and a real estate company dealing in upscale housing
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The Attorney General has disclosed the properties Kwabena Adu-Boahene, the former Director-General of the National Signals Bureau, is accused of using to launder stolen state funds.
Investigations linked Adu-Boahene to multiple properties in Accra’s upscale Mayfair Estates, among others.
Source: Facebook
These include a property valued at $1 million, one other paid for with an initial cash deposit of $500,000 and another property acquired for $200,000.
The Attorney-General, Dominic Ayine, disclosed some of these details at a press conference on March 24.
Further investigations have uncovered that Boahene and his wife ostensibly registered approximately 10 companies under Advantage Solutions Limited, a corporate entity allegedly used to cover up illicit transactions.
The investigation by the Economic and Organised Crime Office also uncovered Adu-Boahene’s ownership of Vertex Properties.
Vertex Properties has been linked to the alleged misappropriation of funds.
Vertex Properties is reported to own 27 houses located in Oyarifa, with each house valued at $295,000.
Beyond Ghana, investigators have tracked two additional properties in London, though specific details regarding these assets are yet to be disclosed.
The Attorney General believes the money spent on the real estate is linked to $7 million meant for a cyber defence system contract that Adu-Boahene allegedly embezzled.
“The proceeds from the suspects’ activities were used to buy significant landed properties and other assets of considerable value both in Ghana and elsewhere,” he remarked.
About Adu-Boahene's arrest
Adu-Boahene was arrested by the Economic and Organised Crime Office on March 20.
He was picked up at Kotoka International Airport upon his arrival from London on a British Airways flight.
According to the state, Adu-Boahene is believed to hold multiple passports, including two service passports and potentially a foreign passport.
The attorney general explained that on January 30, 2020, he signed a contract for the purchase of cyber defence system software from an Israeli company for $7 million.
But Adu-Boahene is alleged to have transferred approximately GH¢49 million from the National Signals Bureau’s funds into his personal accounts, falsely justifying these transactions as payments for the cyber defence system.
An initial payment of GH¢9.5 million, about $1.75 million, was transferred to the Israeli company for payment for the defence system.
ORAL identifies $21 billion in suspected looted funds
YEN.com.gh reported that Operation Recover All Loot (ORAL) had identified $21.19 billion in potential recoveries.
The Ghanaian preparatory committee handed over its report to President John Mahama on February 2, 2025.
The ORAL team was launched on December 18, 2024, with Samuel Okudzeto Ablakwa appointed as the chairman.
Ablakwa believes ORAL’s investigation into 36 high-profile cases alone could yield up to $20.49 billion for Ghana.
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Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
Delali Adogla-Bessa (Head of Current Affairs and Politics Desk) Delali Adogla-Bessa is a Current Affairs Editor with YEN.com.gh. Delali previously worked as a freelance journalist in Ghana and has over seven years of experience in media, primarily with Citi FM, Equal Times, Ubuntu Times. Delali also volunteers with the Ghana Institute of Language Literacy and Bible Translation, where he documents efforts to preserve local languages. He graduated from the University of Ghana in 2014 with a BA in Information Studies. Email: delali.adogla-bessa@yen.com.gh.
Samuel Gitonga (Copy editor) Samuel Gitonga is a Copy Editor at YEN.com.gh. He holds a Bachelor of Broadcast Journalism Degree from the Multimedia University of Kenya. He has over 7 years’ experience in the digital journalism industry. He started out his career at the Kenya News Agency and proceeded to work for several reputable media outlets in Nairobi.
