The Accra High Court has ordered the freezing of four bank accounts belonging to former GIHOC Distilleries Managing Director Maxwell Kofi Jumah, delivering another dramatic twist in an ongoing investigation into alleged financial irregularities.
The order was reportedly granted on Monday, August 3, 2026, following an application connected to investigations by the Economic and Organised Crime Office. EOCO is examining an alleged financial loss of approximately GH¢7 million during Jumah’s tenure at the state-owned company.
The freeze temporarily prevents transactions involving the affected accounts while investigators continue gathering evidence. However, the preservation order does not represent a conviction or establish that Jumah committed any offence.
Among the matters reportedly under investigation are the acquisition, sale and continued use of vehicles belonging to GIHOC. Investigators are also examining claims involving the alleged unauthorised disposal of corporate assets, inflated employee figures and transactions connected to company properties in Tema.
One allegation concerns a Genesis G90 saloon car reportedly sold to Jumah. He was also accused of retaining other company vehicles after leaving office, including an Audi said to be worth more than $60,000. Authorities previously confirmed retrieving three vehicles linked to the former GIHOC boss.
Jumah was arrested by EOCO on April 29, 2026, as part of investigations into suspected breaches of public financial-management regulations. He was initially granted bail under heavier conditions before the amount was later reduced to GH¢30 million with three sureties. He was released after meeting the revised terms.
The former Managing Director has not been found guilty by any court, and the allegations remain under investigation.
The freezing of his four accounts is expected to intensify political debate surrounding the investigation, particularly because Jumah is a prominent member of the New Patriotic Party and a former government official.
Attention will now turn to EOCO’s next move and whether the investigation will eventually result in formal criminal charges.
