Freetown, 10th December, 2025– Businessman David Kpakima has strongly denied allegations of fraud and embezzlement published in the Global Times on December 9th 2025, describing the report as “false, baseless, and deliberately misleading.”
The article claimed that Davar Fazaeli, Group Chairman and Chief Executive Officer of Rasab Group, had suspended Kpakima “pending the outcome of an internal review into operational and financial matters.” It further alleged that Kpakima was accused of “monumental mismanagement, fraud and embezzlement.”
In a statement issued on Tuesday, Kpakima rejected the claims outright, insisting that no board-sanctioned suspension had taken place and that the chairman’s actions are now the subject of litigation before the High Court of Sierra Leone.
“As a shareholder and Group Chief Operating Officer, proper procedure requires that any suspension be approved by the board of directors. This did not occur in my case,” Kpakima said. He confirmed that he has initiated legal proceedings to restrain his business partner from what he described as “unlawful actions.”
Kpakima argued that the timing of the allegations was intended to overshadow his recent request for a comprehensive forensic audit of the companies he co-owns with Fazaeli. “It is self-evident that a person accused of fraud and embezzlement would not be the first to request an audit,” he added.
Since 2019, Kpakima said he has worked alongside Fazaeli to build several ventures into “significant contributors to Sierra Leone’s economic growth,” employing more than 300 Sierra Leoneans. He stressed his commitment to economic transformation and rejected any suggestion that he would misappropriate funds from businesses he helped establish.
“I would not steal from ventures I co-own and have built from the ground up, nor from companies upon which hundreds of Sierra Leoneans rely for their livelihoods,” he stated.
Kpakima urged the public to disregard the Global Times report, describing it as an attempt to pressure him into withdrawing his claims under the partnership. He pledged to keep the public informed once the matter is resolved in court. Legal representation for Kpakima is being handled by OJP Legal, based in Freetown.
