The Attorney-General and Minister for Justice has revealed that Bernard Antwi Boasiako, popularly known as Chairman Wontumi, pressured Ghana Exim Bank to release funds meant for farm workers who, investigations later showed, did not exist.
Speaking at a press briefing in Accra on December 22, the Attorney-General said Wontumi Farms Limited was expected to submit a database of farmhands to facilitate electronic salary payments under the Mining Alternative Livelihoods Initiative.
To support this process, Exim Bank had engaged Eban Capital Limited to create a biometric payment platform for workers who were to be employed on the proposed maize farm at Asare Nkwanta in the Ashanti Region.
However, the Attorney-General disclosed that Wontumi Farms failed to provide the required database because “there were no farmers working on the land.” Despite this, Chairman Wontumi allegedly insisted that GH¢400,000 meant for salaries be paid directly to the company in cash.
“He claimed the youth involved in illegal mining were not used to electronic payment systems and preferred cash,” the Attorney-General said, describing the request as part of a broader pattern of misrepresentation.
Investigators ultimately established that no farming activities took place and no workers were engaged, reinforcing the conclusion that the loan facility was obtained under false pretences.
The Attorney-General says the government will prosecute Wontumi Farms and its directors for allegedly defrauding Exim Bank, committing forgery, and causing a financial loss to the state exceeding GH₵24 million.
“These are not mere breaches of a contract,” he stated. “They constitute acts of criminality by no means a person other than the regional chairman of the then ruling party.”
The Attorney-General disclosed that the total financial loss amounts to GH₵24,225,735, representing the principal loan sum plus accrued interest.
Investigations revealed that Wontumi Farms secured a GH₵4 million loan from EXIM Bank using forged documentation. Chairman Wontumi allegedly submitted a falsified receipt, purportedly issued by Casama Enterprise, to support the loan application. The receipt claimed payment had been made for heavy-duty farming and industrial equipment such as bulldozers and excavators.
EOCO’s probe found that the document presented to EXIM Bank was not an official receipt but a proforma invoice. The word “invoice” had been altered to read “receipt,” which was then submitted as proof of payment. The owner of Casama Enterprise later confirmed that no payment had been made and that only a proforma invoice had been issued to Wontumi Ghana Limited.
Despite assurances from the company that the purchase would be completed, the transaction was never finalised, and the forged receipt falsely claimed Casama Enterprise had received the full GH₵4 million.