Former Tema Oil Refinery (TOR) Managing Director Asante Kwaku Berko has been convicted by a US federal jury over his role in a bribery and money laundering scheme linked to a power plant project in Ghana.

Berko, a dual citizen of Ghana and the United States, was found guilty of conspiracy to violate the Foreign Corrupt Practices Act (FCPA), violating the FCPA and conspiracy to commit money laundering.

The verdict followed a nine-day trial at the US District Court for the Eastern District of New York. He faces up to 30 years in prison and has been remanded pending sentencing.

According to the US Department of Justice (DOJ), Berko was involved in negotiations between the Ghanaian government and Turkish energy company Aksa Enerji Uretim A.S. while working as an Executive Director in Goldman Sachs' Investment Banking Division.

Prosecutors said Berko and his co-conspirators paid more than $1 million in bribes to Ghanaian officials to secure government approvals for Aksa to build and operate the power plant.

The alleged payments included discussions of $1 million for Ghana's then-Power Minister and $250,000 for the minister's senior adviser. The DOJ also said five Ghanaian officials received bribes during an all-expenses-paid trip to Turkey to inspect equipment.

After Parliament approved the agreement in July 2015, prosecutors said further payments were discussed, including $46,000 to members of Parliament who had ratified the agreement.

The US authorities have not identified the Ghanaian officials mentioned in the case.

US Attorney Joseph Nocella Jr. said the conviction was another step in efforts to combat corruption.

“The defendant abused his access to high-level foreign government officials and his platform as an investment banker at a prestigious American firm to line his own pockets with millions of dollars,” he said.

The DOJ also accused Berko of concealing the alleged payments from Goldman Sachs by providing false information to its compliance team and using personal email accounts to discuss the transaction.

The alleged payments were reportedly disguised through shell companies, sham invoices, nominee accounts and cash withdrawals.

Berko's TOR appointment

Berko was appointed Managing Director of TOR in January 2020 but resigned in April that year after the US allegations became public.

He denied bribing Ghanaian government officials or MPs.

The US Securities and Exchange Commission also pursued a civil case against him over the alleged payments. Berko settled that case without admitting or denying the allegations.

Berko, 52, remains in custody pending sentencing.