Derek Kingsford Ablorh, an accountant at Frankalson Ltd., has pleaded not guilty to charges of stealing a total of GH¢1,545,502.00 from his employer, Frankalson Ltd.
The case was heard at the Dansoman Circuit Court, where Kingsford faced allegations of dishonestly appropriating company funds over a two-year period.
According to the statement of offence, Kingsford is accused of unlawfully taking the money from Frankalson Ltd., located in Kaneshie, Accra, between January 13, 2023, and January 17, 2025.
The complainant, Kwadwo Boakye, CEO of Frankalson Ltd., stated that the irregularities were first noticed on January 19, 2025, when the company’s finance officer reported daily shortages in the cash balance.
An internal audit conducted from January 3 to January 14, 2025, uncovered that GH¢224,502.00 had been stolen. Suspicious, the CEO extended the audit period to cover the full two years, revealing a total theft amounting to GH¢1,546,502.00. Following the discovery, the police were notified, and Kingsford was arrested.
During the police investigation, Kingsford admitted to the offence and returned GH¢550,000.00, which the complainant accepted in writing to aid business operations. The case was then formally charged and brought before the court.
Chief Inspector Christopher Wonder, alongside Chief Inspector Kwadwo Aboagye, is prosecuting the case. Defence counsel Kelvin Addo McQuaye applied for bail on behalf of Kingsford.
Her Honour Halimah El-Alawa Abdul-Baasit granted bail at GH¢1 million, with conditions requiring three sureties—two of whom must be public servants—and justification of title deeds equal to the bail amount.
The accused is to report to the police every two weeks until further notice. Due to the amount involved exceeding the prosecutor’s authority, the case docket will be forwarded to the Attorney-General’s office for further advice.
The next court hearing is scheduled for August 20, 2025.
Source: Thechroniclegh
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