Prominent business figure, Amardeep Singh Hari, Executive Chairman of IPMC, has reportedly been arrested for allegedly stealing gold and company documents belonging to Gold Crest Refinery Limited.
According to a report by thechronicle.com, Singh Hari was arrested upon return from South Africa, at the Kotoka International Airport, on August 25, 2025.
The report indicated an arrest warrant was issued for Singh Hari after several attempts by the Ghana Police Service to get him to assist with the investigation into the matter failed.
It indicated that the businessman was arraigned before a court presided over by Kwabena Kodua Obiri-Yeboah on August 26, 2025, where he pleaded not guilty to all the charges levelled against him.
State prosecutors believe that Singh Hari has an accomplice, Sannamdeep Singh Hari, who is currently on the run.
The prosecutors accused the two men of dishonestly appropriating 23 kilograms of refined gold, 2 kilograms of unrefined gold, and sensitive corporate documents, including incorporation certificates, trading licences, and books of accounts.
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They allegedly stole the gold and the other items around December 2024, at the offices of Gold Crest Refinery in Accra, and were charged with three counts of stealing under Section 124(1) of the Criminal Offences Act, 1960 (Act 29).
Details of the case, cited in the report, indicated that the two men allegedly took the items without the knowledge or consent of the other directors of Gold Crest Refinery.
What the lawyers of the businessman said:
Lawyers of Hari, during the trial, objected to the charges, describing them as “baseless and driven by internal company disputes.”
The lead counsel for the businessman argued that the company had not officially lodged a complaint against his client.
He stated that his client is being investigated by the police because of a petition by some questionable individuals in the company.
He added that Hari holds a 50% majority shareholding in Gold Crest Refinery and has acted as Managing Director for the past seven months.
“The accused person is being prosecuted for allegedly misappropriating property belonging to his own company. He was never invited for questioning by any state agency prior to his arrest. He has cooperated fully with investigators and poses no flight risk,” he is quoted to have said.
The police prosecutor handling the case, Chief Inspector Kuubal, argued that the accused person cannot claim ownership over company property merely by virtue of being a shareholder or director.
He said that Gold Crest Refinery Limited, as a legal entity separate from its shareholders, is entitled to the protection of its assets from internal misappropriation.
The judge hearing the case granted the accused person a GH¢100,000 bail with two sureties and adjourned the case.
BAI/AE
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