Recent publication by some media houses against Madam Aangela List over her embezzlement at BCM International where by she was arrested and granted bail has spark new controversies as she run to various media houses to keep her name from the alleged embezzlement. Adamus Resources Limited and its CEO, Ms. Angela List, has stirred a dust storm far beyond the boardrooms and broadcast studios of various media houses.
What some see as a straightforward settlement process, others interpret as a subtle tightening of corporate fingers around the throat of Ghana’s media space by retracting her arrest publications.
But her plan has made some media stations contacted BCM international for more details on her smart play attitude on the embezzlement she coursed at BCM.
Information reaching this paper indicates that management of BCM International has pledge its intention to pursue full legal action to recover the alleged misappropriated funds and seek sanctions under criminal law against Ms. Angela List.
It will be recalled that a couple of weeks ago it was reported that Angela List has been arrested by the Criminal Investigations Department (CID) of the Ghana Police Service over allegations of embezzlement and unauthorized financial transactions and been released on bail as investigations continue.
According to an internal audit conducted after her abrupt resignation in October 2020, Ms. List allegedly instructed a subordinate to execute multiple unauthorized transfers from BCM International’s accounts to third-party entities. The audit reportedly revealed transactions totalling about €1.9 million and US$5.8 million, which investigators believe were carried out for her personal benefit and had no connection to the company’s legitimate business activities.
Audit Findings and Transaction Trail
The internal audit uncovered several high-value transactions now forming the basis of the CID probe:
€1.9 million transferred to Paul Ramlot and Corporate Legal Concept, allegedly used to purchase Lou Moon Resort. Records reportedly show the resort was registered under Notre Dame Investments Ltd, a company said to be solely owned by Ms. List.
US$2.1 million transferred to Hartleys Ltd, sent to an Australian trust account and used to acquire shares in Cardinal Resources. Financial records are said to indicate the shares were registered in the name of Notre Dame Investments Ltd, despite later being sold.
US$3.7 million transferred to Wright Brothers Aircraft Inc, which allegedly financed the purchase of a Bombardier Challenger 604 aircraft that remains in Ms. List’s personal custody.
BCM International’s management maintains that neither the CEO nor the board chairman approved these transfers, stressing that the transactions were executed under the pretext of official company business.
Breach of Trust Allegations
The company has accused Ms. List of breaching her fiduciary duty as a director, describing her actions as a criminal misuse of company funds. BCM International says her sudden resignation in October 2020 raised red flags and directly triggered the audit that exposed the alleged financial irregularities.
Following the audit, BCM International reported the matter to the CID and other relevant state agencies, leading to her arrest.
