SPRINGFIELD vs PETRACO ALLEGATIONS: THE DETAILS
Swiss-based Petraco Oil Company SA has filed a formal petition with Ghana’s Economic and Organised Crime Office (EOCO), alleging that Springfield Exploration & Production Limited , GMP Energy Limited , and senior executives— Kevin Okyere , Geena Malkani Punjabi , and Emmanuel Ansah Bernasko —orchestrated a massive fraud scheme totaling roughly US $94 million ( theheraldghana.com ). Source: The Herald Ghana 1. Fraudulent Petroleum Payment Scheme (~US $30.8 million) In mid-2024, GMP Energy entered into a supply contract involving 35,000 tonnes of gasoline (valued at ~US $29.3 million), originally with EDURC DMCC, later assigned to Petraco ( theheraldghana.com ). BOST (Ghana’s Bulk Oil Storage & Transportation Company) paid GMP in full—but GMP allegedly concealed receipt of the funds, claiming non-payment and diverting money elsewhere ( theheraldghana.com ). Petraco says that during a 3 February 2025 meeting in Accra, Okyere and Malkani admitted to withholding the fu...