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Bernard Antwi-Boasiako, the Ashanti Regional Chairman of the New Patriotic Party (NPP), has pleaded not guilty to multiple criminal charges linked to an alleged financial scandal involving the Ghana Export-Import Bank (Exim Bank).
Chairman Wontumi appeared before the High Court in Accra, presided over by Justice Halimah El-Alawa Abdul-Baasit, where he denied four charges including defrauding by false pretence, forgery, money laundering, and intentionally causing financial loss to a public institution.
Following a bail application filed by his lawyer, Andy Appiah-Kubi, the court granted him bail. The prosecution team, led by Deputy Attorney-General Justice Srem-Sai, did not oppose the request.
According to the charge sheet filed before the court, Chairman Wontumi and one Thomas Antwi-Boasiako, a Director of Wontumi Farms Limited, allegedly used false representations to obtain GH¢14,302,000.00 from Exim Bank for a farming project.
The prosecution further alleges that Chairman Wontumi presented a forged document to the bank in order to secure an additional GH¢4 million from the facility. Investigators claim the document, which was presented as a receipt for agricultural machinery, was originally a pro-forma invoice from KAS-SAMA Enterprise that had been altered.
According to prosecutors, the original inscription “Pro-forma Invoice” was allegedly removed and replaced with the word “Receipt” before it was submitted to the bank as proof of purchase.
Court documents indicate that in January 2018, Thomas Antwi-Boasiako approached Exim Bank as Managing Director of Wontumi Farms Limited and applied for a GH¢19 million facility to finance a large-scale farming venture.
The application reportedly included a board resolution letter authorising the transaction. However, prosecutors argue that the document contained inconsistencies, claiming the resolution was dated December 9, 2017, even though Wontumi Farms Limited was officially incorporated on December 14, 2017.
The prosecution also stated that the company claimed to have secured 100,000 acres of land for the farming project and projected that thousands of families would benefit through employment opportunities.
Exim Bank later approved a facility worth GH¢18.7 million, with approximately GH¢14.3 million eventually disbursed to the company.
Investigators, however, allege that no farming activities were ever carried out. According to the prosecution, no agricultural machinery was purchased, no land was acquired, and no workers were employed for the project as stated in the application.
The prosecution further claims that large sums of money from the company’s accounts were withdrawn and allegedly used for personal expenses and unrelated business investments.
Thomas Antwi-Boasiako, who is also named in the case, is currently reported to be on the run as investigations continue.
