Disgraced PPA Boss cannot explain The Source Of Ghc14.8m In Personal Bank Accounts

The Commission on Human Rights and Administrative Justice (CHRAJ) has referred disgraced former Chief Executive Officer of the Public Procurement Authority (PPA) Adjenim Boateng Adjei, to the Economic and Organized Crimes Office (EOCO) after he failed to explain a whopping Ghc14.8million that flowed into his bank accounts in the three years that he was at the PPA.

The revelation had been thrown up from the corruption investigation that led to his eventual sacking on Friday by President Akufo-Addo.

According to CHRAJ, the amount is the total figure from four Dollar and Euro accounts held at two banks by Adjei who had been caught by the undercover investigator, Manasseh Azure Awuni, awarding government contracts to himself.

Mr. Awuni had followed a tip-off about Adjei using his position as PPA boss to award contracts covered by restricted tenders to his private company, TDL.

After the story came out, President Akufo-Addo directed both CHRAJ and the Office of the Special Prosecutor to probe him. CHRAJ eventually came out earlier this week recommending that he be fired.

However, as part of the probe CHRAJ had also asked for his bank account details from the financial intelligence center and realized that within the period of his appointment, Adjei had amassed a whopping Ghc14.8million in for different bank accounts.

“The documentary alleged that the Respondent has been taking advantage of his office to improperly enrich himself, to which the Respondent strenuously denied through his solicitors.

“However, we can see from the records received from the FIC of the bank accounts of the Respondent that he handled large volumes of cash exceedingly in excess of his known income as CEO of PPA,” CHRAJ wrote in its report.

“The Respondent opened USD Account Number 9040002473180 at the Stanbic Bank on 03 April 2017, after his appointment as CEO of PPA. As of 28 August 2019, a total amount of USD 516,225 had been credited to the account, and his debits stood at USD 504,607.87.

“In respect of his Cedi Account No. 9040002313337 at the same bank, opened on 21 January 2017 before his appointment, a total of 3.83 million Cedis was credited, and 3.81 million Cedis debited, to the account between the date of his appointment as CEO and 29 August 2019.  

His Euro Account at the same bank also had EU54,500.00 credited and 37,333 debited for the same period, in addition to his UMB USD Account No. “428872” which had seen cash flow of over 110,000 USD between December 2018 and March 2019 alone.”

According to CHRAJ, when confronted with the evidence AB Adjei blabbed that Frosty Ice Natural Mineral Water Ltd does not have a bank account and that proceeds from the sales of the water are lodged in his account. 

According to CHRAJ, even though AB Adjei is a director of over 19 companies, he claims that he did not receive director’s fee from any of those companies except Beachfront Stevedoring Company Limited.  

“We find that the Respondent’s explanation completely unsatisfactory and that he could not explain the source of the large volumes of excess wealth that passed through his bank accounts between March 2017 and August 2019 (unexplained wealth),” CHRAJ charged the embattled PPA boss.