Wontumi seeks plea negotiations in GH¢30m Exim Bank case
The Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has initiated plea negotiations with the state in the case in which he has been accused of causing a financial loss of more than GH¢30 million to the Ghana Export-Import (Exim) Bank.
Documents seeking plea bargaining have been filed by his legal team, led by Andy Appiah-Kubi, and served on the Attorney-General.
The application for plea negotiations was filed as Chairman Wontumi stands trial on charges of defrauding by false pretence, forgery, money laundering and intentionally causing financial loss to a public body.
Charges
Chairman Wontumi and Thomas Antwi-Boasiako, a director of Wontumi Farms Limited, are alleged to have used false pretences to obtain GH¢14.3 million from Exim Bank.
The prosecution further alleges that Chairman Wontumi used a forged document to secure an additional GH¢4 million from the bank.
He is also accused of laundering part of the funds allegedly obtained through fraudulent means, resulting in a loss of more than GH¢30 million to the state.
Both accused persons have pleaded not guilty to the charges.
Case of prosecution
According to the prosecution, in January 2018, Chairman Wontumi, acting as Managing Director of Wontumi Farms Limited, applied to Exim Bank for financial support of about GH¢19 million for an agricultural project.
The application was accompanied by a board resolution purportedly authorising the transaction and signed by Thomas Antwi-Boasiako as board chairman.
However, the prosecution contends that the resolution was dated January 23, 2018, but referred to a resolution allegedly passed on December 9, 2017, four days before the company was incorporated and authorised to commence business on December 14, 2017.
The application also represented that 100,000 acres of land had been secured for the project and that the first phase of the venture would create employment for about 38,000 people.
The bank subsequently approved a facility of GH¢18.7 million, comprising a loan and grant package for the acquisition of agricultural equipment, working capital and consultancy services.
The prosecution said Exim Bank disbursed GH¢14.3 million to Wontumi Farms Limited by March 2018.
Alleged forged receipt
The prosecution further alleges that in March 2018, Chairman Wontumi submitted a document described as a receipt to support a claim that the company had purchased agricultural machinery worth GH¢4 million.
Relying on the document, the bank released additional funds.
Investigators, however, contend that the document was not a genuine receipt but a pro-forma invoice issued by KAS-SAMA Enterprise when Chairman Wontumi made enquiries about the equipment.
According to the prosecution, the inscription "Pro-forma Invoice" had allegedly been altered and replaced with the word "Receipt".
Investigations
The prosecution maintains that investigations have established that none of the proposed farming activities were undertaken.
It alleges that no agricultural machinery was purchased, no farming operations were carried out and no workers were employed for the project.
The prosecution further contends that the accused persons did not own or secure the land they claimed had been acquired for the farming venture.
Instead, it alleges that substantial amounts withdrawn from the accounts of Wontumi Farms Limited were used for personal purposes and investments in other business ventures.
