<<Print>>

The wild jubilations greeting the Supreme Court order that Waterville Holdings Ltd, should return to the state a whopping 47 million Euros it obtained in 2009, might be short-lived, as it will soon emerge that the company exist only in the closets of owner of the luxurious Trassaco Estates, Don Ernesto Taricone and Adreas Olandi. Waterville Holdings Ltd, has no known offices in Ghana from where it operates. This means tracking down the 47 million Euros and returning it to state coffers, would prove to be a daunting task for institutions, like the Economic and Organized Crime Office (EOCO). �The Herald� over a year ago, established via the internet, on their website that Waterville Holding Ltd, was registered in far away British Virgin Island (BVI). The website, www.watervilleh.net does not convey any serious message about the company, which at the time had creamed over 38 million Euros from the Ghanaian government. The only traceable address currently available is that of its lawyer, Peasah Buadu, who runs his law firm from Gulf House near Tetteh Quashie Interchange in Accra. Peasah Buadu, was said to have taken over the job from Kwame Tetteh, after he was sacked by Waterville Holding. The Italian-Ghanaian, Don Ernesto Taricone, fled Ghana and hid in Italy after the arrest of Alfred Agbesi Woyome, following the discovery of the GH�51 million Judgment Debt Scandal. He sneaked into the country to continue running his expensive estates businesses, including Villagio Estate Apartment at Airport West in Dzorwulu, opposite ex-President John Kufuor�s private residence and hotel. Micheletti, which is also owned by Don Ernesto Taricone, got part of the contract to build the four stadia used for CAN 2008 tournament in Ghana. Micheletti, is also said not to be legally entitled to any monetary compensation, as they did not have a contract with the State. Some have even suggested that Waterville Holding (BVI) Ltd, might have been cleverly established as a money laundering vehicle by Don Taricone, and some past officials of the Kufuor regime, to stash money away in foreign banks. Waterville Holding (BVI) Limited on their website did not specify its office location. It has no telephone directory, and there is also no named officer to reach in the event of wanting to do business with the company. It mentioned that in 2004, its total annual turnover reached $ 373.5 million, with assets property of over $ 1billion, interestingly suggesting that the website is not updated. A portion, titled organization, has beneath it Board of Directors, Managing Director, Company Secretary, Treasure, Financing Committee, Technical Committee and Local Development Committee, but none of these had names attached to it, thus making it difficult to trace who are the real faces behind Waterville Holding (BVI) Limited. It listed agricultural scheme, commercial estate development, residential estates development, sports and health, energy and tourism as its fields of operations. Below are other details extracted from the Waterville Holdings website. The only way by which Don Taricone is connected to the Waterville is that some of his companies, namely; Trasacco Estate Development Co. Ltd. and Royal Aluminium Systems Limited have been listed as partners of the Waterville. Rather strikingly, Micheletti and Villagio were not listed as partners to Waterville Holding Limited. The name Don Taricone was not at the site as owner or as a director of the company. Profile Waterville Holdings (BVI) Ltd offers, directly or through its associated companies, a wide range of services which include: Feasibility study, Design and construction, Supply of materials and equipment, Estate services, Planning, Engineering and Controlling, Management Consulting, Planning and Development, Financial Support It also listed its key success factors as the holistic approach to project implementation. This includes scope, time, cost and quality management. The motivated team of experts, with high skilled competences and a strong target oriented attitude. Vision and Mission Our vision is to understand the future needs of the developing countries and to ensure that all the activities reach the highest quality standard for their benefit. Our mission is to identify and undertake feasible projects. To generate opportunities for investments and development through the provision of capital and management skills and to ensure accurate country development. Management Team The Management Team is made of high qualified Entrepreneurs and Managers. They come from various fields of operations: finance, engineering, consultancy, university, energy and from different Nations but they all have the same target: to give the maximum added value for the benefit of the projects. Project and Development ADOM ORCHARD (2005 new Acquisition) Farmland 600 Acres of land dedicated to pineapple cultivation Empire Builders Ltd Estate Development 456 Acres designated to Residential and Commercial estate development Sant Agata Agricultural Property Ltd Farmland 52�000 Acres of land dedicated to pineapple, banana, and other agricultural sheme development Sant Agata Agricultural Property Ltd Tourism 2�103 Acres of land designated to develop tourism Links � www.trasaccovalley.com � www.mazzispa.it � www.mondoita.com � www.iscsrl.it � www.imeit.it � www.service-team.ch Partners // General Contractor � ALTIPIANO Srl � BRASILE Srl � Fossano Futura Srl � IMEIT Srl � MAZZI Impresa Generale costruzioni SpA � Service Team SA Partners // Factory � FABI � B.R.M. Ltd � FABI Ltd � I.P.C.P. Ltd. � International Steel Construction Srl � MONDO S.P.A. � Royal Aluminium Systems Ltd � W.A.I.D. Ltd Other Services � GULFWING Ltd � AFTS-American Foreign Trade Services