"Ex-BOST Official Alleged to have Purchased a $5 Million Property in Dubai"

" Ex-BOST Official Alleged to have Purchased a $5 Million Property in Dubai \r\n\r\nIMANI has been working with its international partners on a wide-ranging investigation into critical sectors of the economy.\r\n\r\nCurrently, the focus is on the petroleum midstream and downstream sectors, as it has in the last couple of years become the scene of some serious governance challenges.\r\n\r\nMr. Albert 'M', ( full name withheld for now) , a former employee of the strategic state outfit, Bulk Oil Storage and Transportation Limited (BOST) is a person of interest, who has been contacted by investigative agencies.\r\n\r\nUntil he was fired recently, his role at BOST included strategic oversight of petroleum product sales, depot allocation, and coordination with key industry players.\r\n\r\nPer documentation from the Organised Crime and Corruption Reporting Project ( OCCRP) and the International Centre for Asset Recovery ( ICAR) Mr. Albert 'M' obtained a UAE residence card with identification number (ID) 784-1982-5224dxxx-x, and his occupation was an investor with Cardin General Trading FZ-LLC being his employer.\r\n\r\nMr. Albert 'M's UAE ID was issued on May 8, 2023, by Ras Ali Khamah Economic Zone (RAKEZ) and expired on May 7, 2025.\r\n\r\nMr. Albert 'M' on September 25, 2023, bought property at the plush Al Hebiah Fifth in Dubai for over $5 million from Island Oasis Properties, and the ownership type was sole without mortgage.\r\n\r\nSurprisingly, there are no records of Mr. Albert 'M' disclosing his high-value Dubai property to the Auditor-General as required under Article 286 of the 1992 Constitution and Act 550.\r\n\r\nMr. Albert 'M's involvement with Cardin General Trading FZ-LLC while working in BOST's top management seems to point to clear breaches of the code of conduct for public officers.\r\n\r\nApart from that, Mr. Albert 'M's ability to finance the purchase of a property in Dubai raises concerns about his source of wealth and, under Ghana\u2019s Anti-Money Laundering Act (Act 1044), could constitute enrichment or unexplained wealth if not matched to verified income. He earned about GHC 30,000 a month.\r\n\r\nMr. Franklin Cudjoe, IMANI\u2019s founding president and CEO whose organisation, IMANI is working closely with OCCRP and ICAR said, \u201c we have been forced to disclose some of Mr. Albert 'M's many offshore activities because since reaching out to him on the phone four weeks ago and he agreed to respond to our initial email, he has failed and all his local and international phone numbers are unreachable.\r\n\r\nWe are by this publication giving him a final opportunity to cooperate with the team. He is at liberty to have his lawyers reach out to our retained lawyers. Some former appointees of the last government are cooperating and their responses to questions are being evaluated. I will urge other public officials who are yet to be contacted to respond within the specified time given to them, and they should be truthful with their responses.\u201d\r\n\r\nIMANI has long been concerned about the quality of the transparency and accountability regime implemented for the defunct Gold 4 Oil program. Despite persistent and well-researched critiques of the program by our analysts, the authorities refused to improve the governance of the program.\r\n\r\nThis collaboration with OCCRP and ICAR into the murky dealings of some executives within the state-controlled fuel trading sector is in line with IMANI's unrelenting efforts to pursue the accountability it has been demanding for several years now.\r\n\r\n\"We hope that the new government is learning lessons and would be more minded to cooperate with all governance stakeholders to ensure that government-exposed commercial programs in sectors like petroleum, gold, and cocoa are complemented with strict accountability and transparency mechanisms\", Mr. Cudjoe added.\r\n\r\nOCCRP and ICAR are globally renowned and reorganized for cross-border investigations into corrupt politicians and public officials, and areas to are being closely monitored include complex money laundering networks, shell companies, offshore tax havens, state capture, kleptocracy and systemic abuse of power.\r\n\r\nAlready, papers have been filed in Ghana, USA, UK, Canada, South Africa, and the United Arab Emirates, where the suspected former appointees are alleged to have purchased properties and stashed monies in various accounts.\r\n\r\nThe project is expected to yield actionable findings with some of Ghana\u2019s anti-corruption agencies, and the fallout would rewrite reputations, shift political narratives, and trigger international cooperation and asset recovery."

"Ex-BOST Official Alleged to have Purchased a $5 Million Property in Dubai"

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