Omanghana
Bernard Antwi Boasiako, popularly known as Chairman Wontumi, and Wontumi Farms have filed a suit at the High Court seeking a declaration that their loan dispute with Ghana Export-Import Bank should be resolved through civil proceedings.
The action names Exim Bank, the Economic and Organized Crime Office (EOCO) and the Attorney-General as defendants. It challenges the treatment of the transaction as a criminal matter.
Represented by Samuel Atta-Akyea, the plaintiffs maintain that the loan was legitimately obtained for a farming project and involved no deceit. They want the bank to provide an account of the outstanding balance and pursue repayment under the loan agreement.
According to their statement of claim, the facility was secured by a mortgage over 10,000 acres of farmland and a personal guarantee from Wontumi. They also contend that the bank agreed to arrange insurance.
The plaintiffs say flooding caused substantial losses to the farming project. They are asking the court to direct recovery through the security, guarantee or insurance arrangements. These remain arguments before the court.
Meanwhile, Wontumi, Thomas Antwi-Boasiako and Wontumi Farms Limited face criminal proceedings over an alleged GH¢30 million loss to Exim Bank.
The five charges include defrauding by false pretenses, two counts of uttering a forged document, money laundering and intentionally causing financial loss to a public body.
Prosecutors allege that approximately GH¢14.302 million was obtained through false pretenses in 2018. An amended charge sheet also identifies a pro-forma invoice purportedly issued by EPSONS GHANA LIMITED as an allegedly forged document.
The criminal case has been adjourned to October 13, 2026, at 10:30 a.m., when the amended charges are expected to be considered and fresh pleas taken. The allegations have not been established by a conviction.
Source: Omanghana
