Ghana working with US to prosecute Asante Berko, other suspects in power plant bribery – Srem-Sai
Attorney-General and Minister for Justice, Dominic Ayine, is engaging his counterparts in the United States as Ghana seeks to identify and prosecute other individuals allegedly involved in a bribery scheme connected to the financing of a major power plant project between 2014 and 2017.
The Deputy Attorney-General, Justice Srem Sai, disclosed this in a Facebook post on Saturday, August 8, following the conviction of Ghanaian-American businessman and former Goldman Sachs executive, Asante Kwaku Berko, by a US federal jury in Brooklyn, New York.
Berko was found guilty of conspiracy to violate the US Foreign Corrupt Practices Act (FCPA), violating the FCPA and conspiracy to commit money laundering.
Justice Srem Sai said Mr Ayine was working with US authorities to pursue other persons who may have been implicated in the alleged scheme.
The conviction followed a nine-day trial before Judge Diane Gujarati of the US District Court for the Eastern District of New York.
According to the US Department of Justice (DOJ), Berko played a central role in a scheme involving more than US$1 million in alleged bribes to Ghanaian government officials to secure approval for a multimillion-dollar power plant project.
Alleged bribery scheme
Prosecutors said Berko, who was an Executive Director at Goldman Sachs, helped facilitate a financing arrangement between a Turkish energy company and the Government of Ghana for the construction of a power plant at a time when the country was experiencing a severe electricity crisis.
Evidence presented at the trial indicated that Berko and his co-conspirators allegedly planned to pay US$1 million to Ghana’s Minister of Power in April 2015.
Prosecutors further alleged that five Ghanaian government officials each received US$5,000 during an all-expenses-paid trip to Turkey to inspect equipment for the proposed project.
The court also heard that Berko personally paid tens of thousands of dollars in additional alleged bribes linked to the transaction.
Parliament approved the power plant agreement in July 2015, after which prosecutors presented emails in which Berko and his alleged co-conspirators discussed the illicit payments.
Alleged concealment
The US Department of Justice said Berko took steps to conceal the alleged bribery scheme from Goldman Sachs and other parties involved in the transaction.
Prosecutors said shell companies, fraudulent invoices, nominee bank accounts and cash withdrawals were used to disguise the alleged payments.
The DOJ also said the funds were moved through bank accounts in the United States and other countries, including accounts held in Berko’s name.
Goldman Sachs subsequently withdrew from the transaction after corruption concerns emerged.
Conviction
Berko faces a maximum sentence of 30 years in prison when he is sentenced in November.
His criminal conviction follows earlier civil enforcement action by the US Securities and Exchange Commission (SEC) over the same allegations.
In June 2021, the SEC obtained a final judgment against Berko, permanently barring him from violating the anti-bribery provisions of the FCPA and ordering him to disgorge US$275,000 in alleged illicit gains, together with more than US$54,000 in prejudgment interest.
Berko was extradited to the United States from the United Kingdom in July 2024 after being arrested in London in November 2022 under an Interpol Diffusion Notice.
US authorities condemn corruption
Assistant Attorney General Tysen Duva of the DOJ’s Criminal Division said the conviction demonstrated the consequences of corruption that undermines fair competition.
“We live in a global economy that American companies must be able to compete in fairly. This defendant corrupted that fair competition. He abused his position at a world-renowned American investment bank by helping bribe Ghanaian officials, so he and his co-conspirators, including senior executives at a Turkish company, could make money.”
He added that individuals who undermine US interests through corruption “will face the full force of the Department of Justice.”
Acting Assistant Director of the FBI’s Criminal Division, Matthew Floyd, also criticised Berko’s conduct.
“Berko intentionally lied to his company to continue his scheme. The FBI will not tolerate dishonesty or corruption from anyone who wishes to disturb the business market.”
The case was prosecuted by the US Attorney’s Office for the Eastern District of New York and the Fraud Section of the DOJ’s Criminal Division.
Berko’s conviction has renewed attention on the circumstances surrounding the power plant agreement and the alleged involvement of Ghanaian officials.
The Attorney-General’s engagement with US authorities could lead to further investigations and possible prosecutions of other individuals found to have participated in the alleged bribery scheme.