Philbro Group Limited, a Ghanaian company with interests in real estate, commodities, and vegetable oil bottling, has distanced itself from allegations linking it to the sale of a supposed stolen luxury vehicle involving its CEO, Philip Kwame Brobbey, and former National Signals Bureau (NSB) Director-General, Kwabena Adu-Boahene, who is currently standing trial for fraud.

At a news conference on Friday, August 1, at the company’s factory in Oyarifa, Director of Philbro Group, Jeremiah Quayson, stressed that the company does not trade in automobiles and had no role in the BMW 740D vehicle allegedly linked to Mr Adu-Boahene.

He clarified that the transaction was a personal one between Mr Brobbey and Mr Adu-Boahene.

“The company’s attention has been drawn to certain false and defamatory allegations circulating on both traditional and social media platforms, suggesting that Mr Philip Kwame Brobbey, a respected Ghanaian businessman, imported and knowingly sold a stolen BMW 740D vehicle to Mr Kwabena Adu-Boahene, who is currently standing trial for various criminal offences.

“We wish to state emphatically, on behalf of Mr Brobbey, that these allegations are completely false, misleading, and defamatory,” Mr Quayson said.

According to him, Mr Brobbey lawfully acquired the car locally before selling it to Mr Adu-Boahene in August 2024, not December 2024 as had been reported.

“Mr Brobbey categorically denies being the importer of the said vehicle; instead lawfully acquired it locally before selling it in August 2024, not December 2024 as wrongly reported. Before the sale, Mr Adu-Boahene conducted due diligence and voluntarily proceeded with the transaction. Since the sale, Mr Brobbey has had no further dealings with Mr. Kwabena Adu-Boahene in any form,” he stated.

He accused Mr Adu-Boahene’s lawyer, Samuel Atta-Akyea, of unfairly attempting to link the company to the matter.

“Mr Atta-Akyea sought to unfairly link the company to a purely private transaction between the CEO and his client, hence the need for us to set the record straight,” Mr Quayson explained.

He also lamented the reputational damage caused to their CEO.

“It is deeply regrettable that eleven months after the transaction, defamatory statements have emerged, portraying Mr Brobbey as knowingly having sold a stolen car. These allegations have caused substantial reputational damage to him both in Ghana and internationally, drawing unwanted attention from business associates, family, and community members.”

Philbro Group has called on the public to disregard the claims.

“We therefore urge the general public to dismiss the said allegation as baseless and false, and further call on the public and media to exercise the utmost caution regarding these claims and avoid sharing or amplifying these falsehoods.”

He noted that Philbro is a responsible business that has operated for several years, and has not only contributed significantly to job creation but also has carried out numerous humanitarian projects, with the recent major one being their support to victims of the Akosombo dam spillage disaster.

Legal action

Mr Quayson disclosed that the company’s lawyers have petitioned Mr Atta-Akyea to retract the claims and issue an apology within 72 hours.

The development follows a High Court ruling on July 29, in which Justice John Eugene Nyadu Nyanteh ordered police investigators to provide Mr Adu-Boahene’s defence team with all available information on alleged stolen cars in his fleet.

Adu-Boahene, his wife Angela Adjei-Boateng, and two others are facing trial for allegedly diverting GH¢49.1 million meant for a national cybersecurity system.