Chairman Wontumi pleads not guilty in GH¢30m Exim Bank case

Ashanti Regional Chairman of the New Patriotic Party, Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty to charges linked to an alleged GH¢30 million loss to Ghana Export-Import Bank.

He appeared before the High Court in Accra, presided over by Justice Halimah El-Alawa Abdul-Baasit, where he denied four counts.

The charges include defrauding by false pretence, uttering a forged document, money laundering and intentionally causing financial loss to a public body.

His lawyer, Andy Appiah-Kubi, applied for bail after the plea was taken.

The prosecution, led by Deputy Attorney-General Dr Justice Srem-Sai, did not oppose the application.

The court subsequently admitted Chairman Wontumi to bail.

The case also involves Wontumi Farms Limited and Thomas Antwi-Boasiako, a director of the company, who prosecutors say is currently at large.

According to the charge sheet, the accused persons allegedly obtained GH¢14,302,000 from Ghana Exim Bank through false representations.

The prosecution says the money was released to support a proposed farming project by Wontumi Farms Limited.

The state alleges that in January 2018, Chairman Wontumi approached Exim Bank as Managing Director of Wontumi Farms Limited and applied for a GH¢19 million facility.

The application was said to have been supported by a board resolution letter signed by Thomas Antwi-Boasiako as Board Chairman.

Prosecutors, however, say the document raised questions because it referred to a board resolution passed on December 9, 2017, even though Wontumi Farms Limited was incorporated and authorised to commence business on December 14, 2017.

The state also says the company represented to the bank that it had secured 100,000 acres of land for the farming venture.

The proposal allegedly stated that the first 2,500 hectares of the project would provide employment for about 6,000 families and benefit nearly 38,000 people.

Exim Bank later approved a mixed loan and grant facility of GH¢18,734,260 on January 16, 2018.

The money was intended for agricultural machinery, working capital, staff, labour and consultancy fees.

Chairman Wontumi allegedly signed the acceptance letter in Kumasi on January 23, 2018, with Thomas Antwi-Boasiako signing as witness.

By March 2018, the bank had disbursed GH¢14,302,000 to Wontumi Farms Limited.

A major part of the prosecution’s case concerns a document allegedly submitted to justify the purchase of agricultural machinery.

The state says Chairman Wontumi presented a document marked “Receipt” to Exim Bank, claiming it showed that Wontumi Farms had bought GH¢4 million worth of agricultural plant and machinery.

Prosecutors say investigations later revealed that the document was not a genuine receipt.

According to the prosecution, it was originally a pro-forma invoice issued by KAS-SAMA Enterprise after Chairman Wontumi made price enquiries.

The state claims the words “Pro-forma Invoice” were altered and replaced with “Receipt” before the document was submitted to the bank.

Prosecutors further allege that the farming project was never carried out.

They say no machinery was purchased, no workers were employed and no land was secured for the project as represented to the bank.

Instead, the prosecution claims Chairman Wontumi withdrew large sums from the accounts of Wontumi Farms Limited and used portions of the money for personal purposes, including investments in other businesses.

The state says the transactions caused Ghana Exim Bank a loss of more than GH¢30 million.