The Ashanti Regional Chairman of the New Patriotic Party, Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty to four counts of defrauding by false pretence, forgery, money laundering, and intentionally causing financial loss of over GH¢30 million to the Ghana Export-Import Bank (Exim Bank).

Appearing before the High Court in Accra, presided over by Justice Halimah El-Alawa Abdul-Baasit, Chairman Wontumi was admitted to bail after a prayer by his lawyer, Andy Appiah-Kubi, which was not opposed by the prosecution leader, Deputy Attorney-General Dr. Justice Srem-Sai.

A co-accused and Director of Wontumi Farms Limited, Thomas Antwi-Boasiako, is currently on the run.

According to the charge sheet, Chairman Wontumi and Thomas Antwi-Boasiako allegedly used pretences to obtain GH¢14,302,000.00 from Exim Bank.

He is also accused of uttering a forged document by using a falsified receipt to secure an additional GH¢4,000,000.00 from the bank, laundering a portion of the GH¢14,302,000.00, and intentionally causing the bank to lose over GH¢30,000,000.00 across the entire transaction.

The prosecution's facts state that in January 2018, Antwi-Boasiako applied for a GH¢19 million facility to finance a farming venture, acting as the Managing Director of Wontumi Farms Limited. The application included a "Board Resolution Letter" signed by Thomas Antwi-Boasiako as Board Chairman, which was dated January 23, 2018, but bore a resolution date of December 9, 2017 — four days before the company was actually incorporated on December 14, 2017.

The application also claimed that 100,000 acres of land had been secured and that the project would employ about 38,000 individuals. Exim Bank approved a mixed loan and grant facility of GH¢18,734,260.00, and by March 2018, the bank had disbursed an aggregate sum of GH¢14,302,000.00 to Wontumi Farms Limited.

In March 2018, Bernard Antwi-Boasiako presented a document labeled "Receipt" to the bank, claiming Wontumi Farms had purchased GH¢4,000,000.00 worth of agricultural machinery, which led the bank to advance further funds.

State investigations later revealed the document was a altered pro-forma invoice originally issued by KAS-SAMA Enterprise for a price inquiry.

The prosecution stated, “Investigations have since established that the document was not a genuine purchase receipt. It was originally a pro-forma invoice issued by KAS-SAMA Enterprise to Bernard Antwi-Boasiako when he made price inquiries, having indicated he would return to make the purchase. KAS-SAMA Enterprise never heard from him again.

The inscription ‘Pro-forma Invoice’ on the document had been altered and replaced with the word ‘Receipt’.”

Furthermore, investigations established that no farming activities were undertaken, no machinery was purchased, no staff were employed, and the accused persons did not own the land.

The prosecution stated, “No agricultural plant or machinery was bought. No person was employed to work on any farm. The accused persons did not own or secure the parcel of land they represented to the Bank as secured for the project.”

Instead, Chairman Wontumi is alleged to have withdrawn large sums from the company's bank accounts for personal use, including investments in other business enterprises.