Update: Two SIC top directors arrested over GHC3.8m theft

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Two Directors of the State Insurance Company (SIC), have been detained by the police for allegedly stealing huge sums of money from the state insurer.

Information available to Joy News indicates that one of the officials in police custody is Deputy Managing Director in charge of Finance and Ken Acolatse Administration, Musa Abdulai.

The name of the other official has been given as Mr. Ken Acolatse who is the Head of Finance and Accounting.

The two are being investigated for allegedly embezzling $1.1 million and GHC700,000.

Joy News’ Michaela Anderson who has been following the arrest at the CID Headquarters in Accra, reports that the two spent Thursday night in the Nima police cell.

Even though they were initially taken to the CID Headquarters, they could not pass the night there because there was no space for them, Michaela gathered.

The two have however been returned to the Police CID headquarters for further questioning.

Other officials of the company believed to have been involved in the alleged stealing are being sought by the police.

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