The Ghana Music Rights Organization – GHAMRO has disclosed its decision to retrieve funds that have been misappropriated by the past administration.
A thorough audit of the financial books of GHAMRO from 2012 – 2016 report revealed that an amount of GHC 2,113,803.93 made up of bank transactions and several withdrawals in cash remained unaccounted for by the Carlos Sakyi, K. K. Kabobo led administration for the period 2012 – 2014.
Rex Omar, chairman of GHAMRO at a Press on Thursday, July 25, 2019, in his statement, disclosed that the GHAMRO board has authorized their lawyers to retrieve any misappropriated funds belonging to the society.
“For the past two years, the board has waited patiently for the completion of the process which outcome the Auditor Service is detailed in its final report…” he said.
“As a board, we have authorized our lawyers to retrieve any funds misappropriated actions against persons found to have misappropriated funds belonging to the society,” Rex Omar added.
The statement also instructively noted that before the Receiver Managers exited, an audit conducted showed fragment disregard to corporate governance rules, absence of administrative structure and controls with Society funds dissipated without due process as payments were made without any supporting documents.
Rex Omar further revealed an amount of GHC 55,000 was taken out of the GHAMRO account to purchase a Toyota Sequoia vehicle with a tractor registration number plate without the knowledge and approval of the board until the new administration got EOCO to impound same from Carlos Sakyi and his team.
Another GHC 51,650 was paid to Motionpix for members ID cards without any documentation and provision of the intended service. A further GHC 11,500 was again taken without any supporting documentation and without explanation as to how the excess of GHC 4,000 was applied
Other payments totaling GHC 70,050 were dissipated without records under the Carlos Sakyi, K. K. Kabobo administration.
Rex Omar added that GHAMRO under his administration is ready to discipline members who bring the society’s name into disrepute.
“Let it be on record that GHAMRO is not afraid to crack the whip on members who had brought the name of the Society into disrepute and even continue to do so currently. Under this new constitution, however, members who flout the Society’s rules and regulations would be disciplines in accordance with the rules,” he stated.
Rex Omar has under his 2 years of leadership collected over GHC 2 million royalties for its members.
He has however assured GHAMRO members that plans are far advanced to implement more effective ways to collect royalties and levies for its members.