A case of alleged fraud has surfaced, involving prominent lawyer Samuel M. Codjoe, who is accused of defrauding a client of USD $750,000.
The sum, was reportedly intended, for an investment in a cocoa farm venture as the victim fights back to demand justice.
Below is the Full Petition by the Victim Yvonne Odame-Nti sent to the Property Fraud Unit of the Ghana Police and supporting fake documents that were used to commit the fraudulent transaction.
P. O. Box MP 2079
Mamprobi/ Accra
Ghana
3rd January 2025
Property Fraud Unit
C.I.D. Headquarters Ghana Police service.
Petition against Samuel M.Codjoe and Tom Kwarteng Amaning in $750,000 cocoa farm fraud
I, Yvonne Odame Nti, humbly write to petition your highly esteemed office over a fraudulent transaction on a USD 750,000 cocoa farm and warehouse deal.
In late November 2023, our company, Y & M Regeneration Limited represented by Yvonne Nti expressed interest in the purchase of a 250 acre cocoa farm and warehouse which was represented and/or described to be wholly planted with 70 acres being 5 years old and remaining 180 acres being 9 years.
We negotiated and settled at 1.5 million cedis with payment agreement to pay half upon completion of due diligence and remainder after transfer of title.
In early January, Tom Kwarteng and his lawyer approached us that he owes EXIM bank and has defaulted therefore the bank is in attempt to impound his property hence he urgently needs the first payment to service the loan at EXIM bank.
Out of goodwill, the part payment was released and we took possession of farm awaiting the completion of documents to transfer ownership.
Few months afters payment and taking possession of farm, we discovered that:
- Tom Kwarteng did not have capacity to sell and transfer ownership of the farm and warehouse.
- The only evidence showing ownership by Tom Kwarteng is indenture between chief of Anyinasu and Mr Tom Kwarteng.
- The land is not titled, the only legal document proving ownership is the indenture, however the indenture doesn’t bear the signature of the paramount chief of the area, recognised as Ejisumanhene. Under customary law, the paramount chief is in charge and responsible for allocation of customary land under his jurisdiction, hence the indenture in possession for the sale of the farmland is not valid. A copy of indenture on farm land is attached.
- The only valid document that will authenticate ownership of farmland is an allocation note and indenture signed by both the sub chief of Anyinasu and Ejisumanhene. This will be the best approach for Tom Kwarteng to transfer his ownership. Per documents, Tom Kwarteng isn’t the legal owner of the farmland, the indenture at hand isn’t valid as it stands so does not have the right to sell and transfer deeds to us.
- A search at land commission shows land isn’t owned by Tom Kwarteng making his claim to own the land and transfer ownership to us is fictitious. Land Commission search report is attached.
- Sam Cudjoe provided a fake documents transferring warehouse ownership to Tom Kwarteng.
- The warehouse is officially recognised to be owned by a limited liability company referred as Shikannah Impex ltd. Per search at Lands Commission, there is a transfer process dated 3rd July 2019 to transfer Assignment to Tom Kwarteng.
- The legal process of transfer to Tom Kwarteng requires a shareholder resolution that confirms sale of property or transfer of ownership to Tom Kwarteng. Although the company has directors registered as Charles Brobbey, Samuel Omari Anim and Oduro Asante, per checks, the only shareholder is Oduro Asante, hence any accepted document validating transfer should be signed by Oduro Asante and a copy of his updated ID card should be provided to authenticate identity. Kindly find attached board resolution. A profile of Shikannah from registrar General Department is attached.
- It is also worthy to note that, the board resolution confirming transfer of property to Tom Kwarteng is dated on 13th May 2020, which is a later date than the assignment at lands commission which was dated on 3rd July 2019. A board resolution should precede the sale of a company asset and any attempt to convey to a new owner. It can be induced this mov to draft a Board resolution by Samuel Cudjoe and Tom Kwarteng was an after thought following persistent demand from us after the above discoveries.
- Tom Kwarteng presented false yield and state of the farm misleading us with fake yield figures to overprice the farm.
- During interactions with Tom Kwarteng, attempts to secure any valid documents and report on the farm proved futile. We had to rely on representations by Tom Kwarteng on farm management practices, past yield etc. The yield data presented by Tom Kwarteng were later found to be false according to reports by COCOBOD purchasing officer who has been the sole purchased on beans from Tom Kwarteng’s farm.
- After we taking possession, we realised yields were extremely low contradicting the representations made by Tom Kwarteng. We had to approach the licences purchaser to validate the yields presented by Tom Kwarteng, the purchaser by name Douglas revealed that Tom Kwarteng approached him during our negotiations with him and indulged him to inflate the yield figures with the reason that he is using this figure in a proposal to investors. It was a blindside to to him that he was actually using it to present false data to us. Douglas has given an oral evidence of how Tom Kwarteng persuaded him to falsify yield data and is willing to validate this when called upon.
- The yield figures Tom Kwarteng gave us were 369 bags in 2021, 718 bags in 2022 and 1584 bags in 2023. Meanwhile verified data from Douglas report 389 bags in 2021, 627 bags in 2022 and 703 bags in 2023. The yield figure of 2023 used for valuing the farm and estimating return on investment was more than doubled to mislead us.
- Moreover, Tom Kwarteng denied having any reports by COCOBOD on his farm when approached for data and documentation to enable us build a baseline on the farm conditions, we later discovered that in January 2020, a team of COCOBOD experts had conducted an extensive exercise at the farm and had cautioned Tom Kwarteng of low survival of the cocoa trees due to severe draught.
- Also, soil test conducted revealed soil is high in acidity and further discoveries showed Mr Kwarteng had also contracted a team of experts to conduct soil acidity and had also called on COCOBOD to provide technical support to address this situation. All this information were vital to deciding on purchase of the farm yet Mr Kwarteng did not reveal to us during his presentations but rather misleading us by painting a rosy picture and withholding such vital information.
- Also tree counting to estimate plant population revealed the total 250 acre land is not fully planted as earlier described. Plant population was 72,594 which is approximately 163 acres and some trees as young as 1 year old existing. This contradicts earlier presentation that the 250 acres farm is wholly planted and youngest trees were 5 years old.
- Samuel Cudjoe and Tom Kwarteng mischievously changed the conditions spelt out in an earlier edited contract of sales to protect their fraudulent acts.
- After earlier engagements and discussions with Lawyer Samuel Cudjoe and Tom Kwarteng about conditions and terms of CoS, the duo altered certain aspects of the CoS without my consent and gave the impression the final CoS that was signed on the date of executing the contract was way has jointly been revised and finalised.
- Certain clauses in the CoS is unreasonable and unfair on the purchaser and these were
mischievously included at the blindside of the purchaser to shield them from their underhand tactics.
The listed issues — lack of capacity to sell and transfer properties, obtained a board resolution to transfer ownership of a company asset through false representation and impersonation; representation of false facts on cocoa yield with a pure intent to defraud and mislead; fraudulently concealing information and documents that affects the quality and value of the farm and warehouse which would have influenced our decision to purchase the assets, are considered to be defrauding by false pretence per the criminal act.
Despite providing proof of these claims to the attention of Samuel Cudjoe and Tom Kwarteng but both refused to act in good faith and used threats and hand twisting tactics to demand for more money and also keep the initial $750,000 paid.
Our huge investment and lives are currently at risk, we therefore call on the police to assist us in this matter to ensure the law works in getting a fair resolution.
We appreciate your consideration on this matter and we count on your usual cooperation.
Sincerely
Yvonne Odame-Nti
CEO and Director,
Y& M Regeneration Limited
A copy of Board Resolution written in 2020
Shikannah impex Company Profile showing Oduro Asante as only shareholder
Land Commission search report indicating transfer from Shikannah Impex in 2019
Land Commission search results on farm land showing no transaction
Indenture on farmland signed by subs chief with no paramount chief representative
