Accra, May 19, GNA – Bernard Antwi Boasiako, also known as Wontumi, Ashanti Regional Chairman of the New Patriotic Party, has appeared before an Accra High Court over an alleged Ghana Export-Import Bank fraud case.
Mr Boasiako, an entrepreneur, is facing charges of defrauding by false pretences, uttering forged documents, money laundering and intentionally causing financial loss to a public body.
The court, presided over by Justice Halimah El-Alawa Abdul-Baasit, admitted him to bail after the prosecution, led by Dr Justice Srem-Sai, Deputy Attorney-General, said it did not oppose the application.
Mr Boasiako was charged together with Wontumi Farms and one Thomas Antwi Boasiako, who is currently at large.
He denied all the charges.
The court held that Boasiako had previously appeared before two differently constituted courts and had already been granted bail, and therefore should continue on the existing bail terms.
Mr Andy Appiah-Kubi, lead counsel for Boasiako, prayed the court to maintain the bail conditions granted by the Economic and Organised Crime Office (EOCO), arguing that his client was a public figure with a fixed place of abode who had honoured all invitations extended to him by state institutions.
“It is our prayer that the court will adopt the bail conditions at the Economic and Organised Crime Office (EOCO) to the accused person who intend to appear before the court at all times,” counsel said.
Dr Srem-Sai confirmed that Mr Boasiako had complied with all previous bail conditions and consistently appeared before the court.
The prosecution said Mr Boasiako was the sole shareholder and one of two directors of Wontumi Farms, a company incorporated on December 14, 2017, to undertake farming, agricultural business and processing activities.
The prosecution said Mr Boasiako approached the Ghana Export-Import Bank in January 2018 for a GHC19 million facility to support a farming venture.
It said the application stated that a 100,000-acre parcel of land had been secured for the project and was accompanied by a board resolution and a project proposal.
The court heard that the board resolution, dated January 23, 2018, indicated that the company’s board had approved the application on December 9, 2017, four days before the company was incorporated.
The prosecution further stated that the project proposal represented that 2,500 hectares of the proposed farm would employ about 6,000 families, comprising some 38,000 individuals.
The court heard that the bank approved a facility of GHC18,734,260 for the purchase of agricultural machinery, working capital, staff and labour costs, and consultancy fees.
The prosecution said by March 2018 the bank had disbursed GHC14,302,000 to Wontumi Farms.
Investigations, however, allegedly established that the proposed farming project was never undertaken, no machinery was purchased and the land claimed to have been secured for the project was neither owned nor acquired by the accused persons.
“They employed no one to work on the farm. They did not own or secure the parcel of land which they represented to the Bank as a parcel of land secured for the proposed farm.”
The prosecution alleged that Mr Boasiako presented a document described as a receipt for the purchase of GHC4 million worth of agricultural machinery to secure additional disbursement from the bank.
Investigations allegedly revealed that the document was originally a pro-forma invoice issued by KAS-SAMA Enterprise and had been altered by replacing the inscription “Pro-forma Invoice” with “Receipt”.
The prosecution also alleged that large sums withdrawn from Wontumi Farms’ accounts were used for Mr Boasiako’s personal expenses and investments in other businesses.
It said efforts by the bank to recover the funds were unsuccessful, leading to investigations by EOCO officials in March 2025.
Mr Boasiako was subsequently arrested, cautioned and charged on May 14, 2026.
The case has been adjourned to June 18, 2026.
GNA
Edited by Kenneth Sackey
Reporter: Joyce Danso
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