Businesswoman initiates action to retrieve stolen monies
An 86-year-old businesswoman, Mama Adesi, has initiated an action at the Fast Track Division of the Accra High Court to retrieve GH¢607,097.20 and $210,010 that were allegedly stolen from her Merchant Bank accounts.
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They were allegedly stolen by Francis Konings Gbanaglo, her nephew who also worked with her for 25 years as the general manager of Mama Adesi Company Limited and also doubled as its accountant.
He used a sizeable part of the stolen amount to acquire a number of landed properties dotted around the city of Accra.
Abuse of trust
Mama Adesi is illiterate and had entrusted the handling of banking transactions to Mr Gbanaglo. Whenever there was a bank transaction to be undertaken, Gbanaglo filled the appropriate forms and presented them to Mama Adesi to thumbprint for processing.
Little did she know that her nephew was stealing large sums from her account and transferring them to the accounts of two companies, one belonging to him and the other, his wife.
An Accra High Court, presided over by Mr Justice John Ajet Nasam, on May 8, 2015 found Gbanaglo guilty of stealing and sentenced him to pay a fine of GH¢100,000 or in default serve 25 years in prison.
In her statement of claim, Mama Adesi averred that Gbanaglo had, over the years, taken undue advantage of her age and illiteracy to illegally transfer the said amounts into his accounts.
She said she rarely withdrew cash from her bank, adding that all amounts lodged at the bank were used mainly for transfers to overseas and local suppliers such as Nestle Ghana Limited and, therefore, she did not need foreign currency from the bank for local or foreign transactions.
However, Gbanaglo withdrew foreign currencies by letters written by him and thumbprinted by Mama Adesi to withdraw money from her foreign account.
After running down the accounts, Gbanaglo negotiated with the Accra branch of the then Merchant Bank for an overdraft facility that amounted to GH¢682,558.01 as of April 1, 2011, with interest accruing till date, without Mama Adesi’s consent.
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He used a warehouse belonging to her and situated at North Kaneshie to secure the overdraft facility.
Mama Adesi held that she was traumatised when she was informed by the bank that all her company’s savings in treasury bills and other fixed deposits had been used to offset loans and overdrafts but she still owed the bank.
When the information got to Mama Adesi, the shock of what her nephew had done instantly incapacitated her. Presently she is unable to walk.
Writer’s email: victor.kwawukume@graphic.com.gh