Attorney-General and Minister for Justice, Dr. Dominic Ayine, has disclosed that former Deputy Director-General of the National Signals Bureau (NSB), Kwabena Adu Boahene, and his wife, Angela Adjei-Boateng, diverted over GHC35 million of taxpayers’ money for personal use.

Addressing the press, Dr. Ayine detailed findings from an investigation by the Economic and Organised Crime Office (EOCO), which uncovered fraudulent financial transactions orchestrated by Mr. Adu Boahene.

Suspicious Bank Transfers and Misuse of Funds

According to the Attorney-General, on February 6, 2020, Mr. Adu Boahene transferred GHC27.1 million from the National BNC’s account at Fidelity Bank to a private BNC account at UMB. This transaction was meant to finance the purchase of cyber defense system software from ISC Holdings in Israel, valued at $7 million.

Subsequent reviews of the bank transactions revealed that Mr. Adu Boahene instructed the private BNC to transfer GHC9,537,520 (equivalent to $1,750,000 at the time) to ISC Holdings. However, he fraudulently attached a government of Ghana contract and an invoice that he falsely claimed had been issued by ISC Holdings.

Further transactions on March 18 and March 30, 2020, saw him transferring an additional GHC21 million from the National BNC Director’s account at Fidelity Bank to the same private BNC account at UMB.

A review of these transactions indicated that the payments were purportedly for the cyber defense system the National BNC was acquiring. In total, GHC49 million was funneled into his private BNC account, an amount that matched the cedi equivalent of the $7 million contract sum. However, no further payments were made to ISC Holdings.

Funds Diverted for Personal Use

Dr. Ayine revealed that a thorough examination of the private BNC account showed that, after transferring the $1.75 million to ISC Holdings, Mr. Adu Boahene and his wife diverted the remaining funds for their personal use, including transfers to third parties in Ghana.

"The difference between GHC49 million, being the money Mr. Boahene transferred from the bank accounts of the National BNC to his private BNC, and GHC9.5 million, being the money he actually paid to ISC Holdings for the software, ended up with him and his wife. The sum of GHC35,462,480 of taxpayers’ money went into their private pocket," Dr. Ayine disclosed.

Complex Web of Companies Connected to the Accused

Investigations further revealed that the ultimate beneficial owner of BNC Communications Limited is another company, Advantage Solutions Limited. Additionally, ten other companies, linked through a complex network of shareholding and directorships, are connected to Mr. Adu Boahene and his wife.

"For purposes of investigation, the names of those companies will not be disclosed at this stage," the Attorney-General stated.

Meanwhile, Deputy Attorney-General Dr. Justice Srem-Sai has assured that both Kwabena Adu Boahene and his wife, Angela Adjei-Boateng, are being treated fairly while in custody.