Millions of Cedis lost from GHAMRO Account

The Carlos Sakyi led administration at GHAMRO from 2012 to 2014 has been accused of financial misappropriation.

A special audit of the accounts of the Ghana Music Rights Organisation (GHAMRO) supervised by the Auditor General has revealed that ¢2,339,272.79 is yet to be fully accounted for.

According to the Audit, an amount of ¢2,113,803.93 made up of bank transfers and several withdrawals including cash made from banks has been spent with no better details.

The audit was conducted on the accounts of the Organisation from 2012 to 2016 as a result of agitations from some members who demanded to know the financial health GHAMRO.

However current Chairman of GHAMRO reacting to the issue in an interview on Peace FM Entertainment Review said, his team has been able to retrieve a Toyota Sequoia vehicle which was the subject of ¢55,000 withdrawal without due authorisation from the Board.

According to him, the current management of the firm is in connection with the Attorney General to retrieve the needed amount of money from the past executives to help execute better prospects of the organization.

The Ghana Music Right Organisation (GHAMRO) was established under Section 49 of the Copyright Law, Act 690 of 2005 and regulated under Copyright Regulation, L.I. 1962 of 2010 to collect and distribute royalties accruing to authors and owners of copyright and neighbouring rights.