Hon. Samuel Okudzeto Ablakwa has revealed that court records unveil a bitter dispute between Loic and Kwaw, centering on vast sums of money generated from their business ventures on the encroached beachfront of Labadi Beach Hotel, with the two engaging in a fierce battle over the profits.
He disclosed that substantial amounts of money generated from the Labadi Beach Hotel’s beachfront, which is allegedly under the sole control of Mr. Kwaw Worsomao Blay, include, Gross revenue for the 2019 event: GHS 4,337,113.59 and corporate sponsorship from Pernod Ricard West Africa for the 2020 event: GHS 457,833.87 (€65,000).
“Payment made to an individual by the name “Small God” — US$50,000.00. The amount withdrawn for one Mr. Affutu — GHS 25,000.00. Payment made to the second defendant (a company owned by Kwaw Blay) for alleged social media platform management services during the 2020 event — GHS 75,000.00. The amount which was allegedly fraudulently paid by the first respondent (Mr. Kwaw Worsemao Blay) to himself — GHS 300,000.00”.
Hon. Samuel Okudzeto Ablakwa
Furthermore, Hon. Ablakwa noted that the Credit balance on the Company’s Momo account number +233 591459312 as of February 2021 — GHC 244,124.32 and Monies paid from the Company’s Stanbic Bank account number 9040008095722 on 23rd January 2023 to one Aminu Adam Zanz — GHC 357,595.00 are in sole control of Mr. Blay
Additionally, Hon. Ablakwa pointed out that Mr. Blay has exclusive control over the following funds: a mobile money account balance of GHC 244,124.32 as of February 2021 (account number +233 591459312) and payment of GHC 357,595.00 made on January 23, 2023, from the company’s Stanbic Bank account (number 9040008095722) to Aminu Adam Zanz.
Hon. Ablakwa also revealed that Mr. Blay has control over an additional GHS 100,000.00, which was paid from the company’s Stanbic Bank account (number 9040008095722) to himself (Kwaw Worsemao Blay) on January 23, 2023, further expanding the list of funds under his sole control.
“Even though it is difficult not to develop sympathy for Loic Devos Junior on how he was crudely hounded out of the deal by the Blay brothers, the organization one has to pity the most is Labadi Beach Hotel”.
Hon. Samuel Okudzeto Ablakwa
Loic Devos Demands Restitution from Kwaw Blay
Furthermore, Hon. Samuel Okudzeto Ablakwa revealed that Loic Devos is seeking restitution from Kwaw Worsemao Blay for the unauthorized use of company funds, demanding that the latter refund the expended amounts, plus interest, for the monies spent without his consent as a director of Gold Coast Expo Ltd.
He pointed out that this case not only highlights a clear instance of state capture but also debunks the false narrative perpetuated by NPP propagandists that SSNIT’s hotels are unprofitable, revealing the true extent of the ruling party’s influence and control over state assets.
“That notwithstanding, Labadi Beach Hotel’s resilience ought to be celebrated considering that it is still posting impressive profits (unlike Rock City Hotel which seeks to buy it) even after the brute encroachment and plunder of its beachfront”.
Hon. Samuel Okudzeto Ablakwa
Hon. Ablakwa vowed that he would confront these encroachers and their powerful enablers in Parliament soon, stating, noting that Parliament will hold them accountable for their actions and ensure that justice is served.
“I have been poring over some additional 600 pages of court documents including rulings and exhibits in the Loic Devos Junior and Kwaw Worsemao Blay Polo Beach Club litigation”.
Hon. Samuel Okudzeto Ablakwa
Hon. Ablakwa described the documents as revealing a shocking tale of deceit, treachery, and betrayal, so astonishing that it could be mistaken for a plot from a “Hollywood blockbuster”.
Hon. Ablakwa reaffirmed his commitment to tackling the scourge of political exploitation, announcing that he will soon introduce a landmark Private Member Bill aimed at curbing the rampant abuse of state resources by politicians and their affiliates, a move designed to promote transparency, accountability, and good governance in the management of public assets.
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