A former Ghanaian Assistant Accountant has been handed an 11-year Bankruptcy Restriction Order by a UK court for misappropriating £160,510 from his employer. 

Kofi Baffoe-Okine (30), unemployed of Harrow, Middlesex, received an 11 year bankruptcy restriction order. In making the order, the Court accepted evidence presented by the Insolvency Service, which showed, he had abused his position of trust - an Assistant Accountant - by misappropriating funds, causing a loss to his former employer, resulting in a claim in bankruptcy of £151,067.

As a result of the loss, Mr Baffoe-Okine's former employer petitioned for his bankruptcy.

Mr Baffoe-Okine is therefore bound by the restrictions set out in insolvency law that a bankrupt is subject to until they are discharged from bankruptcy - normally 12 months - until 2027. In addition, he cannot manage or control a company during this period without leave of court.

 

The court heard that Baffoe-Okine was employed as an Assistant Accountant by the K2 Human Capital Solutions in October 2010. His role involved the processing of payments to consultants subcontracted to K2 Group European division.

Between April and July 2012, Baffoe-Okine initiated eight unauthorised payments totalling €160,510 from K2 Partnering Solutions SA bank account, without authority and to bank accounts which were not legitimate consultants engaged by the K2 group.

Baffoe-Okine claimed to have only personally benefited from €15,720 of the €160,510 misappropriated, stating the funds were used to support his living costs when he absconded to Ghana between August 2012 and December 2014. However the Official Receiver has been unable to verify this account.

Andrew Stanley, the Official Receiver from Kent said: ‘Mr Baffoe-Okine held a position of trust with his former employer, which his subsequently breached by carrying out actions of dishonesty.

‘These proceedings should serve to protect the public from any future misconduct by restricting Mr Baffoe-Okine from obtaining credit and acting in the management of a company. The period of restrictions is in the top bracket (the maximum being 15 years) to reflect the seriousness of the case and the high level of the victims that have suffered a loss.

Baffoe-Okine did not defend the proceedings against him.

 By: Farida Mohammed/guardianghana.com