Investigations Link Boahene to Multi-Million Dollar Properties in Accra
Former National Signals Bureau (NSB) Director, Kwabena Adu Boahene, has come under investigation for allegedly misappropriating $7 million in government funds. The Economic and Organised Crime Office (EOCO) arrested him at Kotoka International Airport upon his return from London, following revelations by Attorney General Dr. Dominic Ayine on Monday, March 24, 2025.
Luxury Properties Allegedly Funded by Fraudulent Transactions
EOCO’s investigation suggests Boahene diverted GHS 39.4 million ($5.6 million) from a cyber defense system contract into private accounts. These funds were allegedly used to acquire high-value properties in Accra’s Mayfair Estates, including:
- No. 2 Stream Part Drive – Valued at $1 million (GHS 15 million)
- No. 6 Edith Avenue – Purchased with a $500,000 cash deposit, part of a five-house deal
- No. 7 Edith Avenue – Bought for $200,000
Authorities suspect these properties were acquired using misappropriated state funds.
Dummy Companies Used to Conceal Transactions
EOCO has uncovered that Boahene and his wife registered ten companies under Advantage Solutions Limited, allegedly to conceal fraudulent financial activities. Investigators are tracking additional assets tied to Boahene and his associates.
Government Cracks Down on Fraudulent Transactions
Attorney General Dr. Ayine has issued a stern warning to banks, cautioning them against processing further transactions related to the case. He emphasized that financial institutions and individuals involved in facilitating illicit transactions will face prosecution.
Meanwhile, EOCO is closely monitoring all assets linked to Boahene, with plans to seize any unlawfully acquired properties. The case is expected to unravel deeper financial misconduct within government security contracts.
Source: 3News