Amardeep Singh Hari, Executive Chairman of IPMC and prominent business figure, has been arraigned before the Accra Circuit Court on charges of stealing gold and company documents belonging to Gold Crest Refinery Limited
Mr. Hari, 58, appeared before His Honour Kwabena Kodua Obiri-Yeboah earlier today, where he pleaded not guilty to three counts of stealing under Section 124(1) of the Criminal Offences Act, 1960 (Act 29).
His alleged accomplice, Sannamdeep Singh Hari, is currently at large.
The prosecution, led by Chief Inspector Jacob Maalo Kuubal, accused the two of dishonestly appropriating 23 kilograms of refined gold, 2 kilograms of unrefined gold, and sensitive corporate documents, including incorporation certificates, trading licenses, and books of accounts.
The incidents are said to have occurred on or before December 2024 at the offices of Gold Crest Refinery in Accra.
According to the brief facts presented by the prosecution, the accused persons allegedly took the items without the knowledge or consent of the other directors.
Multiple efforts by the police to engage Mr. Hari in the course of their investigation allegedly failed, leading to the issuance of an arrest warrant.
He was subsequently apprehended at the Kotoka International Airport on August 25, 2025, upon returning from South Africa.
Bail Application and Defence Submissions
Defence counsel for Mr. Hari, strongly objected to the charges, describing them as baseless and driven by internal company disputes.
He emphasized that the complainant company had never officially lodged a complaint directly; rather, the petition that triggered the investigation was submitted by legal representatives (Sory@Law) allegedly acting on behalf of individuals with questionable standing in the company.
Counsel further disclosed that Mr. Hari holds a 50% majority shareholding in Gold Crest Refinery and has acted as Managing Director for the past seven months, during which the other shareholders have allegedly abandoned their responsibilities.
“The accused person is being prosecuted for allegedly misappropriating property belonging to his own company,” counsel stated. “He was never invited for questioning by any state agency prior to his arrest. He has cooperated fully with investigators and poses no flight risk.”
He also stressed that Mr. Hari has deep roots in Ghana, having lived and worked in the country since 1991, employing nearly 1,000 people.
Prosecution Perspective
Chief Inspector Kuubal insisted that the charges are serious and that the accused cannot claim ownership over company property merely by virtue of being a shareholder or director.
He emphasized that Gold Crest Refinery Limited, as a legal entity separate from its shareholders, is entitled to the protection of its assets from internal misappropriation.
Nevertheless, the court ruled in favour of bail, setting conditions at GH¢100,000 with two sureties. Mr. Hari is expected to reappear on September 3, 2025.
The court also ordered that the second accused, Sannamdeep Singh Hari, appear on the adjourned date.
The court has directed the prosecution to file the necessary disclosures ahead of the next hearing.
The case remains under active investigation.
Source: Thechronicle
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