Nguvu Holdings Limited and Nguvu Mining Limited have rejected claims that Moses Bosompem was arrested at the airport over an alleged US$224 million share fraud involving Adamus Resources, describing the publication as false, misleading and intended to prejudice the public against Mr Bosompem, Angela List and the companies.
In a rejoinder to a publication by Ghana News Online on August 24, 2026, under the headline, “Moses Bosompem Arrested at Airport Over Adamus Resources $224m Share Fraud,” the companies said Mr Bosompem had not been arrested on the basis of any share fraud.
The companies alleged that Allan Morrison, working with Paul List and Mike Cooke, was behind the publications, and accused them of attempting to turn a longstanding corporate and family dispute into a criminal matter.
Nguvu said records from the Australian Securities and Investments Commission (ASIC) show that Mr Bosompem was duly appointed Director and Secretary of Adamus Resources Pty Limited, an Australian proprietary company, on October 20, 2022.
According to the companies, the official ASIC register recorded Mr Bosompem in those positions at the time he signed the relevant form, and copies of the records have been submitted to the appropriate authorities.
No charge over share fraud
Nguvu Holdings and Nguvu Mining stressed that Mr Bosompem had neither been convicted nor publicly charged with any share fraud.
They argued that the publication itself acknowledged that the Criminal Investigations Department (CID) had not provided details of any charges, making it, in their view, irresponsible to link an alleged arrest to a US$224 million share fraud and an “unlawful takeover.”
The companies also disputed the interpretation of an Australian court judgment cited in the publication.
They said the case, Morrison v Woodthorpe [No. 3] [2022] WASC 454, was delivered on December 22, 2022, and concerned changes to the directors and secretary of Adamus Resources Pty Limited in Australia.
Nguvu maintained that the Australian court did not determine the ownership of Adamus Resources Limited in Ghana, did not rule on the validity of the November 7, 2022 share-transfer form and did not find that Mr Bosompem had acted fraudulently or committed a criminal offence.
Dispute over ownership claims
The companies further denied claims that shares had been secretly stolen or transferred from Paul List or Allan Morrison.
According to Nguvu, Adamus Resources Pty Limited in Australia is wholly owned by Nguvu Holdings Limited, and neither Mr Morrison nor Mr Paul List was a shareholder of the company.
Nguvu said Mr Morrison had served as a director in circumstances connected to the winding-up of the Australian company and had no ownership interest in it.
The companies said the Adamus business had undergone a series of internal restructurings following Endeavour Mining’s acquisition of the formerly listed Adamus Australia in 2012.
They said Adamus Australia subsequently sold its entire interest in Adamus Resources Limited to Endeavour Mining Limited and was delisted.
Nguvu further claimed that the Australian entity had not operated with a bank account or employees since its delisting following the 2012 transaction.
Dispute over US$224m figure
The companies also rejected the US$224 million figure cited in the publication, describing it as “concocted.”
They said the amount did not represent the value of the shares, consideration for any transfer or money received by Nguvu Mining Limited, Mr Bosompem or Ms List.
Nguvu argued that the Australian litigation arose from a dispute between separated spouses, Paul and Angela List, and alleged that proxies were being used in the dispute.
The companies expressed concern that the longstanding family and corporate-control dispute was being transformed into a criminal case and alleged that the criminal process was being used to intimidate Ms Angela List and influence control of Adamus Resources outside established corporate and judicial processes.
Ghana litigation
Nguvu also pointed out that the dispute has already been before the Ghanaian courts since 2021, with several decisions, according to the companies, having been issued in favour of Adamus Resources Limited.
The companies therefore called on the Ghana Police Service to investigate any complaint impartially and to treat what they described as false information supplied to public officers as a matter requiring appropriate action.
They also demanded that Ghana News Online immediately retract the publication and headline, publish their rejoinder with equal prominence and refrain from presenting unproven allegations as established criminal conduct.
Nguvu Holdings and Nguvu Mining further appealed to the National Media Commission and the leadership of the Ghana Journalists Association to take steps to promote discipline and professional standards among media organisations.
The companies concluded by stating that they reserved all their rights in relation to the publication and the issues arising from it.
Story By: Eric Bosateng
