20.8 C
Thursday, July 7, 2022

Lawyer Trembles Over $2.5bn Castle Cash


P.V. ObengTHE HOPES of an Accra Commercial Court to locate the whereabouts of a $2.5billion loan package introduced to Ghana under the Rawlings administration for development was yesterday partially shattered when Lawyer William Adumoah-Bossman, who had promised the court an advisory letter which indicated that the money indeed arrived on the shores of the country, failed to produce it.

The lawyer, who had confidently promised the court the letter on Tuesday November 9 2009, sounded tense during yesterday’s proceedings as he rescinded his earlier statement that he had the letter.

According to him, he did not remember saying he had the letter in his possession but recalled rather stating that he had seen the letter from Thomas Moss, agent of the Hong Kong Trust, the loan granters, which was addressed to Van Kirksey and Associates, the African American company which initiated of the loan, to inform it that the money had arrived.

Mr. Adumoah-Bossman explained that Egbert Adjeso, a defendant in the matter, had shown him the letter at the time he was Adjeso’s solicitor, but when he requested copies his client asked to be allowed to show it to one Anyenor, his consultant friend, first before providing him with copies.

Although he said Adjeso never provided him with the copies, Mr. Adumoah-Bossman indicated that he was positive the letter and other documents would be in the custody of one Opoku Adjei, who took over as Adjeso’s solicitor.

He added that he made efforts to get the letter but after going through his archives he observed that the letter was not with him.

Immediately he completed these statements, Justice Margaret Insaidoo, the presiding judge, who looked surprise at his utterances, reminded Lawyer Adumoah-Bossman that he was on record as having told the court he had the letter and also promised to present it yesterday.

The judge asked, “Where is the document, Mr. Adumoah-Bossman, you are under oath and must tell the truth. You must call a spade a spade. The reputation of the state is at stake here, for which reason we must arrive at the truth”.

Richard Twumasi Ankrah, counsel Van Kirksey, whose cross-examination led to the issue of the letter asked him to assist the court since it was the key solution to the dispute in court. “My Lord all eyes are watching and the truth must certainly come out”, he added.

He further prayed the court to allow Mr. Adumoah-Bossman a little time to search for the letter and to present it on the next adjourned date.

Justice Insaidoo obliged and subsequently adjourned the matter to November 25, 2009 for continuation with the instruction that Mr. Adumuah-Bossman send his people to look for the letter.

J.K. Agyemang, counsel for the Bank of Ghana, also added his voice encouraging Mr. Adumuah-Bossman to tell the court all he knows about the case.

Mr. Adumoah-Bossman is the first to testify among four officials subpoenaed by the court to assist in tracing the whereabouts of the said $2.5billion loan introduced to the Rawlings’ government by Van Kirksey and Associates, an African America company, in the late 1986.

Van Kirksey and Associates had dragged Egbert Adjeso and Associate, PV. Obeng and the Bank of Ghana to court to demand its 10 per cent share of the total package as stated in an agreement it made with the government.

On the other hand, the defendants have maintained that no such amount was transferred into the country.

It was at the request of Owusu Afriyie, counsel for Egbert Adjeso, that Mr. Adumuah-Bossman, S.K.Appiah, then acting Governor of Bank of Ghana (BoG), S.N.Adjei, then BoG counsel, and Dr. KG Erbyn, then Chief Executive of Ghana Investment Centre, have been subpoenaed to court for their account of the deal.  The three other personalities are yet to testify.

By Mary Anane

Latest news

Man Utd 5 – 0 Wigan

Portsmouth 1 – 4 Arsenal

Sex workers storm port city

Related news

Man Utd 5 – 0 Wigan

Portsmouth 1 – 4 Arsenal

Sex workers storm port city