UPDATE 9/18/14 @ 1:25 p.m.
HUNTINGTON, W.Va. (WSAZ) -- A Barboursville pharmacy owner and operator has pleaded not guilty to a 40 count federal indictment.
The indictment returned by a federal grand jury in Huntington on September 10, charges Kofe Ohene Agyekum with drug distribution and money laundering.
Federal prosecutors say Agyekum, was the director and president of KAYPAT Medical Inc., which did business as A+ Care Pharmacy, in Barboursville. Agyekum was employed at A+ Pharmacy as a pharmacist intern.
Count One of the indictment alleges that Agyekum conspired to unlawfully distribute oxycodone and hydromorphone from August 2013 through July 2014.
Counts Two through Four of the indictment allege that Agyekum unlawfully distributed oxycodone and hydromorphone on specific days in June and July of 2014.
The remaining thirty-six counts in the indictment allege that Agyekum engaged in money laundering by depositing cash proceeds from the drug conspiracies at various banks in Barboursville with the intent of concealing the source of the cash.
The indictment also seeks to forfeit more than $2 million in cash and a luxury vehicle.
Agyekum’s trial is set for November 18.
Kofi Ohene Agyekum, 36, faces 4 counts of drug conspiracy and 36 counts of money laundering.
Agyekum is president and director of KAYPAT Medical Inc., which did business as A+ Care Pharmacy.
Agyekum was originally arrested last month on a federal charge of trying to evade federal cash reporting requirements.
According to the indictment, the drug conspiracy charges involved the distribution of oxycodone between August 2013 and July 2014.
If convicted, prosecutors are asking that Agyekum forfeit more than $2.3 million that authorities say they located in numerous bank accounts and safety deposit boxes.
The grand jury returned the indictment earlier this week.
The West Virginia Board of Pharmacies said his ex-wife, the "Pharmacist-In-Charge", surrendered her license last month.
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We first told you about the case against the owner of A+ Care Pharmacy earlier this week.
Federal investigators said Kofi Agyekum funneled hundreds of thousands of dollars through several bank accounts, all to avoid reporting it.
A search warrant unsealed in the last 24 hours shows the owner of A+ Care Pharmacy is now being investigated for illegally selling pills, with or without a prescription, and trying to hide the cash and paper trail.
Investigators said A+ Care is the third largest Oxycodone distributor in West Virginia in 2014.
A+ Care is officially closed according to employees WSAZ.com spoke with Wednesday.
Owner Kofi Agyekum, an immigrant from Ghana, is behind bars, charged with structuring bank transactions to avoid reporting tens of thousands of dollars in cash deposits.
Investigators said from late 2013 to June 2014, he made 109 cash deposits, totaling nearly $800,000.
Court documents show Agyekum would frequently try to make deposits across several banking institutions in a way to avoid federal reporting requirements.
In one example, on June 2, 2013, investigators said he made five different cash deposits at a handful of banks to funnel $20,000 cash into his accounts without reporting it.
Federal documents state Agyekum said he would only take cash to avoid bad checks and chargebacks because of the "nature of his clients".
The West Virginia Board of Pharmacies said his ex-wife, the "Pharmacist-In-Charge", surrendered her license last week.
New federal court documents show investigators had reason to be suspicious about the cash deposits.
Since June 2014, officers worked with informants to make undercover pill buys at the pharmacy. They said Agyekum demanded transactions were "cash-only" and did not give receipts to avoid a paper trail.
Investigators said Agyekum gave informants a list of doctors willing to write prescriptions to people out-of-state.
When an informant asked about buying extra Oxycodone pills, court documents show Agyekum did not verbally agree, but still sold the informant extra pills at a higher price.
According to a search warrant, A+ Care also filled prescriptions for drug trafficking organizations from several states and the prescriptions were written from as far away as Florida.
Stats from the Drug Enforcement Agency show A+ Care ordered 10,600 doses of Oxycodone in 2012.
They reveal the orders jumped 10 times that in 2013, to more than 120,000.
By this month, the agency said the pharmacy ordered more than 328,000 doses.
Federal investigators said the business purchased $2.4 million dollars in pills from December 2012 to June 2014.
Documents show the Board of Pharmacies said nearly 332,000 Oxycodone pills are unaccounted for in the store's records, with a value of millions.
Investigators said more than $3.6 million was deposited in the business' primary bank account. They also found hundreds of thousands more in safety deposit boxes.
A search warrant reveals Agyekum had safety deposit boxes at several banks in a handful of cities.
The document states he visited one safety deposit box, at a Chase Bank, eight times in a month.
Agyekum has not been charged with any drug crimes in this case.
WSAZ.com reached out to Agyekum's attorney for his side of the story, however, the attorney told us he submitted a motion to withdraw from the case and told us, "No comment."
The West Virginia Board of Pharmacies said the surrendered license was set to expire next June.
They said the business is no longer in operation.
Board officials said former A+ Care Pharmacy customers will need to switch their prescriptions to a different provider.