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Saturday, January 9, 2010

Gov't investigates Kosmos/EO over fraud

Betty Mould Iddrisu
Betty Mould Iddrisu

The government has initiated extensive investigations into activities of Kosmos and its partners EO Groups in the oil industry in the country.

According to the Attorney General, Betty Mould Iddrisu, government has reason to suspect that criminal activities have taken place in the company which holds a stake in the the Jubilee field.

She told Joy Business News her outfit commenced investigations in May, 2009 and are expected to take a firm decision regarding possible prosecution in the coming days.

“The signs are pointing to the fact that we have gathered enough evidence we believe in order to give us serious concern about the activities of the company offending against the laws of this country,” she said.

She would however not disclose the extent of the investigation or the level of criminality.

The Financial Times news paper however reports that possible charges may include causing financial loss to the state, money laundering and making false declarations to public agencies.

Betty Mould Iddrisu however debunked claims that the government is witch-hunting the EO group over assertions that the owners of the company have ties with ex-president J.A. Kufuor.

Story by Nathan Gadugah/Myjoyonline.com/Ghana

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