Omanghana
Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty before the Accra High Court to four criminal charges linked to an alleged fraudulent GH¢14.3 million loan transaction involving the Ghana Export-Import Bank (Exim Bank).
The plea was entered on May 18, 2026, before presiding judge Halimah El-Alawa Abdul-Basit, who subsequently adjourned proceedings to June 18, 2026, for a Case Management Conference.
Chairman Wontumi and his company, Wontumi Farms Limited, are facing charges of defrauding by false pretenses, money laundering, uttering a forged document, and intentionally causing financial loss to a public body.
According to prosecutors, the accused secured a loan facility from Exim Bank between 2018 and 2022 under the representation that the funds would be used to establish a large-scale agricultural project.
However, the prosecution, led by Deputy Attorney-General Justice Srem-Sai, alleges that no substantial farming operations, land acquisitions, or equipment purchases were ever undertaken. The state further claims that Chairman Wontumi altered a pro-forma invoice into what prosecutors describe as a fake receipt in order to obtain an additional GH¢4 million from the facility.
Prosecutors also allege that portions of the loan funds were diverted for personal use rather than the intended agricultural investment.
The state argues that the transaction has resulted in financial losses exceeding GH¢30 million to Exim Bank after accounting for accrued interest and related liabilities.
A second accused person in the case, Thomas Antwi Boasiako, is currently reported to be at large.
During proceedings, the High Court directed the prosecution to file all required disclosures ahead of the next hearing date. Lead defense counsel Andy Appiah Kubi successfully appealed for Chairman Wontumi to remain on his existing bail conditions, citing his continued cooperation with the Economic and Organised Crime Office (EOCO) throughout investigations.
Source: Omanghana
