‘Paying back stolen funds is not enough’ – Avedzi demands tougher punishment for corrupt officials

Former Chairman of Parliament’s Public Accounts Committee, James Klutse Avedzi, has criticized the practice of allowing corrupt officials to refund stolen public funds without facing legal consequences. He warned that such leniency only encourages corruption.

Speaking on Joy News, Avedzi, now Director General of the Securities and Exchange Commission, argued that recovering misappropriated funds is necessary but insufficient.

He stressed that corruption should not be treated as a financial transaction where culprits simply repay what they stole and walk free.

Citing an example, he questioned why an individual who embezzles $10 million and profits an additional $5 million should only return the original amount without penalties.

He urged stricter punitive measures to deter corruption and prevent officials from treating public funds as personal assets.