The Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako, widely known as Chairman Wontumi, has been formally charged in connection with an alleged multi-million cedi fraud and money laundering scheme involving a loan facility secured from the Ghana Export-Import Bank (Exim Bank).
Court documents filed at the High Court in Accra indicate that Chairman Wontumi, together with Thomas Antwi Boasiako—who is currently at large—and Wontumi Farms Limited, are facing four criminal counts, including defrauding by false pretences, forgery, money laundering, and causing financial loss to a public institution.
According to the charge sheet dated May 15, 2026, the accused persons allegedly obtained about GH¢14.3 million from Exim Bank in 2018 under the claim that the funds would be used to establish a large-scale agricultural project.
Prosecutors allege that Wontumi Farms Limited had applied for a GH¢19 million facility, presenting documents which indicated that the company had acquired a 100,000-acre tract of land for farming activities.
Investigators, however, claim that several of the documents submitted in support of the application—including a board resolution and project proposal—were inconsistent, with some allegedly dated before the company was formally incorporated.
Although Exim Bank reportedly approved a facility of GH¢18.7 million, about GH¢14.3 million was ultimately disbursed.
The prosecution further contends that the funds were not used for the intended agricultural project. According to investigators, no land was acquired, no farming activities were undertaken, and no machinery was purchased as initially represented to the bank.
The charge sheet also alleges that Chairman Wontumi later presented a document purporting to show a GH¢4 million purchase of agricultural equipment. However, investigators claim the document was originally a pro-forma invoice which was allegedly altered and presented as proof of payment.
Authorities say the disputed document was subsequently used to support further disbursement of funds.
Under another count, prosecutors allege that between 2018 and 2022, Chairman Wontumi knowingly handled portions of the funds obtained through the alleged fraudulent scheme.
The final charge claims that the accused persons intentionally caused financial loss exceeding GH¢30 million to Exim Bank through the transaction.
Investigators further allege that portions of the funds were diverted into unrelated personal and business activities, while recovery efforts by the bank proved unsuccessful.
The Attorney-General’s Department says investigations began in March 2025, leading to the current prosecution and arraignment in May 2026.
Chairman Wontumi is expected to reappear before the High Court in Accra as the case continues.
Source: Wesleyannews.com
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