Court grants more time for plea bargaining in GH¢30 million Exim Bank case against Chairman Wontumi

The High Court in Accra has granted the Attorney General and Ashanti Regional Chairman of the New Patriotic Party, Bernard Antwi-Boasiako, also known as Chairman Wontumi, additional time to conclude plea negotiations in a case in which he is accused of causing financial loss of over GH¢30 million to the Ghana Exim Bank.

When the case was called on Monday, lawyers for both the prosecution and defence informed the court that discussions on a possible plea agreement were still ongoing and required more time to be completed. The court accordingly adjourned the matter to July 27, 2026.

Chairman Wontumi and Thomas Antwi-Boasiako, a Director of Wontumi Farms Limited, are accused by the state of using false pretences to obtain GH¢14,302,000 from the Ghana Export-Import Bank.

He has also been charged with forging documents with intent to defraud, including the alleged use of a falsified receipt to secure GH¢4,000,000 from the bank. The prosecution further alleges that he diverted part of the GH¢14,302,000 disbursed to Wontumi Farms Limited, funds which were allegedly obtained through fraudulent means, resulting in a total alleged loss of over GH¢30 million to the state.

Chairman Wontumi has pleaded not guilty to four counts, including defrauding by false pretence, forgery, money laundering and intentionally causing financial loss to a public institution.

According to the prosecution, in January 2018, he approached the Ghana Export-Import Bank, presenting himself as Managing Director of Wontumi Farms Limited, and applied for a GH¢19 million facility to support a farming project. The application was supported by a “Board Resolution Letter” allegedly authorising the request and signed by Thomas Antwi-Boasiako, who was described as Board Chairman.

The prosecution alleges that the resolution letter was dated January 23, 2018, but referenced a resolution supposedly passed on December 9, 2017, even though Wontumi Farms Limited was only incorporated and authorised to commence business on December 14, 2017.

The application also claimed that 100,000 acres of land had been secured for the project, with the initial 2,500 hectares expected to create employment for about 6,000 families, representing approximately 38,000 individuals.

On January 16, 2018, the bank approved a combined loan and grant facility of GH¢18,734,260 for agricultural equipment, working capital, labour and consultancy services. Chairman Wontumi signed the acceptance in Kumasi on January 23, 2018, with Thomas Antwi-Boasiako signing as witness.

By March 2018, a total of GH¢14,302,000 had been disbursed to Wontumi Farms Limited. The prosecution says that in the same period, Wontumi presented a document described as a receipt indicating the purchase of GH¢4,000,000 worth of agricultural machinery, which influenced further disbursements.

However, investigators allege that the document was not a genuine receipt but an altered pro forma invoice originally issued by KAS SAMA Enterprise during a price inquiry, which was later modified by replacing the words “Pro forma Invoice” with “Receipt.”

The prosecution further claims that no farming activities were ever carried out under the project, no machinery was purchased, no land was secured as claimed, and no workers were employed.

It is also alleged that funds withdrawn from the company’s accounts were diverted for personal use and investments in other business ventures.