Friday, April 1, 2011

$48 million Dollar Oil Fraud Saga: TOR MD Threatens Legal Suit

                                                   Managing Director of TOR, Ato Ampiah

The Coalition of Democratic Forces (CDF), a pressure group in the country, has called on the Atta Mills led National Democratic Congress government as a matter of urgency to sack, arrest and prosecute all Board Members of the Tema Oil Refinery (TOR) including its Managing Director, Ato Ampiah for being the brains behind a $48 million dollar oil fraud.

In an interview with Mr. Omari Wadie, leader of the CDF on Peace FM’s Kokrokoo programme, he alleged that instead of TOR paying the said amount to the original company who supplied the crude oil from, they rather made the payment to another company which he believes is non-existent.

Reacting to the allegations on the same platform, Mr. Ato Ampiah debunked the assertions describing them as fabrications put forward just to defame him. He explained that in the operations of TOR, they do not purchase crude oil with fiscal cash but rather uses ‘letters of credit’ from the bank. He added that even before the ‘letters of credit’ is issued out, painstaking investigations are conducted.

He therefore finds it difficult to understand how the CDF can claim that such an amount of money has been paid; much more to a wrong company. He vowed to seek redress at the law courts, since he claims the pressure group has maligned him.

But in a quick rebuttal, Mr. Omari Wadie dared the TOR MD to file a suit against him insisting that the explanations given by Mr. Ato Ampiah were a pack of lies and has documents which prove beyond all doubt that TOR and its board members were behind the 48 million dollar oil fraud. He promised to submit the documents for PeaceFM’s perusal by Friday.

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