According to an independent investigation, it has been revealed that, one Mr. William Falconer popularly known as Rocco who is a son of a British Lord Falconer of Thoroton has been caught defrauding clients and investors around the world.
The current fraud scheme perpetuated by Mr. Rocco is the scamming of Suppliers, farmers and clients of Ministry of Food and Agriculture Programme being implemented by the Government of Ghana.
The alleged fraudster, Mr. Rocco is a British national and local resident in Ghana currently living at House Number 6 Granite Court, 3rd Circular Road, Cantonments in Accra.
Mr. Rocco is currently in Court over a fraud he perpetuated against a particular company known as Sustainable Trading, an offshore company that expressed an interest to do business in Ghana particularly with the Ministry of Food and Agriculture, regarding the Government flagship programme of Planting for Food and Jobs.
Before Sustainable Trading was permitted for the Planting for Food and Jobs Programme it was very imperative for the company to have a local partner in accordance with the GIPC Act and other relevant laws of Ghana. As such, Sustainable Trading came into contact with Mr. Rocco who agreed to offer his local company called Demeter Ghana Limited to be used as the special purpose vehicle for the business with the Ministry of Food and Agriculture under Planting for Food and Jobs initiative.
It was mutually agreed between Sustainable Trading and Mr. Rocco to operate a joint bank account in the name of Demeter Ghana Limited with GT Bank Ghana Limited, Castle Road, Accra.
The arrangements were that:
1. Wares such as seedlings and fertilizers were procured and exported to Ghana, all of which were pre-financed by Sustainable Trading.
Mr. Rocco as the local agent of Sustainable Trading was to receive the goods in Ghana pre-financed, procured and exported by Sustainable Trading and deliver them to the Clients working with the Ministry of Food and Agriculture under the Planting for Food and Jobs Programme.
2. Mr. Rocco and his local company, Demeter Ghana Limited was to collect the monies from the Distributors, Ministry of Food and Agriculture and Ghana Government on behalf of Sustainable Trading and to pay same into the joint bank account agreed upon by Sustainable Trading and Demeter Ghana Limited for onward payments to the Suppliers. This agreement was adhered to for the 2019 Planting for Food and Jobs Programme.
However, in 2020, Mr. Rocco started drifting from the agreed and known mode of operating by diverting monies collected and due in the joint bank account. Initial investigation by independent journalist reveals that Rocco has received monies which he held to his exclusive benefit at the detriment of Sustainable Trading.
A misleading expression was created by Mr. Rocco that made owners of Sustainable Trading to believe that the joint bank account has not yet received any monies from the clients, when in actual fact was not the true situation on the ground. However, there were proofs by way of paid in monies to Mr. Rocco and his company by clients, including the Government of Ghana, which Mr. Rocco criminally diverted to different banks accounts other than the agreed joint bank account that was duly opened by Sustainable Trading and Demeter Ghana Limited for that purpose.
Interestingly, it has been revealed that, Mr. Rocco and his company Demeter Ghana Limited were caught for fraudulent dealings by the Ministry Food and Agriculture and the company was subsequently suspended indefinitely as a supplier to the Government of Ghana.
The conduct of Mr. Rocco can best be described as purely criminal with evil intentions against his partners, clients and the Government of Ghana.
Currently, there is a pending lawsuit against Mr. Rocco and the Demeter Ghana Limited at the High Court of Ghana compelling him to refund an amount in excess of over Hundred Million Ghana Cedis to Sustainable Trading, a company that he recently defrauded.
It is important that, the Ministry of Food and Agriculture, and Government of Ghana blacklist William Falconer aka Rocco and his company Demeter Ghana Limited because of the unprecedented level of fraudulent activities that he and his company have been engaging in.
Mr. Rocco is an alleged serial scammer who has been successfully defrauding a lot of companies and investors operating in African Countries. And it is about time the investment community and the various Governments around the world watch him closely or better put completely blacklist him and his companies.