The Ashanti Regional Chairman of the New Patriotic Party, Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has been formally charged in connection with an alleged fraud and money laundering scheme involving a loan facility from the Ghana Export-Import Bank (Exim Bank).
Court documents filed at the High Court in Accra indicate that Chairman Wontumi, Thomas Antwi Boasiako, who is reportedly at large, and Wontumi Farms Limited are facing four criminal charges, including defrauding by false pretence, authoring forged documents, money laundering and intentionally causing financial loss to a public institution.
According to prosecutors, Wontumi Farms Limited allegedly secured about GH¢14.3 million from Exim Bank in 2018 after applying for a GH¢19 million loan facility purportedly to establish a large-scale farming project.
Investigators claim the company submitted documents indicating it had acquired a 100,000-acre parcel of land for the venture. However, prosecutors allege some supporting documents, including a board resolution and project proposal, were dated before the official incorporation of the company.
Although Exim Bank approved a facility of GH¢18.7 million, investigators say GH¢14.3 million was eventually disbursed.
The prosecution further alleges that the funds were not used for the intended farming project, claiming no land was acquired, no farming activities were undertaken and no agricultural machinery was purchased despite representations made to the bank.
Court documents also allege that Chairman Wontumi later presented a purported receipt for GH¢4 million worth of agricultural equipment to justify part of the expenditure. Investigators, however, contend that the document was originally a pro-forma invoice that had been altered and falsely presented as proof of payment.
Prosecutors further claim the alleged forged document was used to secure additional disbursements from the bank.
Under the charge sheet, Chairman Wontumi is accused of possessing part of the GH¢14.302 million between 2018 and 2022 while allegedly knowing the funds had been fraudulently obtained.
The prosecution also alleges that the accused persons caused financial loss exceeding GH¢30 million to Exim Bank, with substantial portions of the money allegedly diverted into personal use and unrelated business investments.
The Attorney-General’s Department said investigations into the matter began in March 2025 and led to Chairman Wontumi’s arraignment on May 14, 2026.
He is expected to reappear before the High Court in Accra as proceedings continue.