Nguvu Holdings Limited and Nguvu Mining Limited have said that they do not believe the claims of a $224 million share fraud involving their Director, Moses Bosompem. They called an article on the matter false, misleading and unfair.
The companies are reacting to an article from Ghana News Online dated August 24 2026 titled “Moses Bosompem Arrested at Airport Over Adamus Resources $224m Share Fraud.”
In their response the companies said that Mr Bosompem was not arrested for share fraud and has not been found guilty of or charged with such a crime.
They also said that the article wrongly stated that there was a transfer of shares in Adamus Resources. They said that the article presented claims as facts without any official charges.
Mr Bosompem has neither been convicted of nor formally charged with any share fraud offence. The article even says that the CID has not given any details about charges. So it is not fair for the article to say that an arrest proves a $224 million share fraud and an ‘unlawful takeover ‘” the companies said.
They reminded that an arrest or an investigation does not mean that a crime has been committed, especially when no charges or court decisions have been made.
Nguvu Holdings and Nguvu Mining also said there were details in the article about an Australian court decision.
They mentioned the case Morrison v Woodthorpe [No. 3] [2022] WASC 454 from December 22 2022. According to the companies the case was about changes in the directors and secretary of Adamus Resources Pty Limited, a company not about who owns Adamus Resources Limited in Ghana.
The companies also said that the Australian court did not look at the validity of a share-transfer form from November 7 2022 and did not find that Mr Bosompem acted dishonestly or committed a crime.
They said that documents from the Australian Securities and Investments Commission show that Mr Bosompem became a director and secretary of Adamus Resources Pty Limited on October 20 2022.
According to the companies they have given the records to the right people as part of their response to the article.
Nguvu also said that there is no truth in the idea that shares belonging to Paul List or Allan Morrison were taken secretly or transferred illegally.
The companies said that Adamus Resources Pty Limited in Australia is completely owned by Nguvu Holdings Limited and not by Mr Morrison or Mr Paul List. They also said that Mr Morrison was an employee of BCM Ghana Ltd who was made a director of the company when it was closing down.
According to Nguvu after Endeavour Mining bought Adamus Australia in 2012 the Adamus Ghana business had changes in control and restructuring.
“Adamus Australia transferred its entire interest in Adamus Resources Ltd to Endeavour Mining Limited before being delisted from the stock exchange,” the companies said.
They said that Mr Morrison was appointed as a director to help with the companys closing, which started in 2017.
The companies called Adamus Australia a company and said that it had no bank account or employees since it was taken off the market after the 2012 deal. They also said that Mr Morrison was not involved in managing Adamus Resources Limited in Ghana.
Another issue the companies have is the $224 million figure mentioned in the article.
Nguvu Holdings and Nguvu Mining said that the figure is wrong. They said it does not show the value of shares the cost of any share transfer or money received by Nguvu Mining, Mr Bosompem or Ms Angela List.
“The $224 million number is made up. It is not the value of the shares the cost of any transfer or money given to Nguvu Mining Limited, Mr Bosompem or Ms List ” they said.
The companies also said that the Australian legal case came from an argument between Paul List and Angela List, who are separated. They said that the argument is being handled through others.
They are worried that a company and family issue is being acted as a crime.
The latest effort to portray the longstanding family and corporate dispute as a criminal matter is a serious concern. It looks like Paul List, Allan Morrison and othersre using the crime system to scare Ms Angela List into taking control of Adamus Resources in a way that is not legal ” they said.
Nguvu Holdings and Nguvu Mining said that the bigger disagreement is already in the courts. They said that there have been battles since 2021 and several decisions have gone in favor of Adamus Resources Limited.
The companies asked the Ghana Police Service to look into any complaints and check the false information given to public workers.
They also asked Ghana News Online to take back the article publish their response with the importance and not say unproven claims are real crimes.
The companies also asked the National Media Commission and the leaders of the Ghana Journalists Association to help make media more responsible.
“Nguvu Holdings and Nguvu Mining keep all their rights ” the companies said.
Their response does not decide the ownership or legal issues which’re for the right people to look into. Any crime claims against the people involved will need proof and proper steps before any conclusions can be made.
The disagreement is still being looked into. Could go to court. Nguvu Holdings and Nguvu Mining say that the claims, against Mr Bosompem are not true and that the $224 million share fraud story is not correct.