The Attorney General and Minister for Justice, Dr Dominic Ayine, has announced that the state will prosecute Wontumi Farms and its directors over alleged financial crimes involving the Ghana Export-Import Bank (EXIM Bank).
According to Dr Ayine, investigations by the Economic and Organised Crime Office (EOCO) have established sufficient evidence to support charges of defrauding by false pretences, forgery, and causing financial loss to the state.
Addressing journalists in Accra on Monday, December 22, the Attorney General isclosed that the alleged financial loss currently stands at GHS24,255,735, representing the principal amount involved and accrued interest.
“In the face of the evidence we have gathered in this investigation, thoroughly conducted by EOCO, we have made the decision to prosecute Wontumi Farms and its directors with defrauding by false pretences, forgery and causing financial loss to the state in the sum of GHS24,255,735,” Dr Ayine said.
He noted, however, that the figure could increase before charges are formally filed due to compounding interest.
He explained that prosecution will begin after the Christmas break, once EXIM Bank confirms the final outstanding amount.
“This figure represents the principal sum plus the interest that has accrued so far. By the time we file charges, which will be definitely after the Christmas break, it might be that this figure would have increased because the interest on the principal keeps compounding.”
“So we will get the exact figure of the amount that is involved in this criminal enterprise from the EXIM Bank before we file charges in court,” he stated.,
The decision follows EOCO investigations into a loan transaction involving Wontumi Farms, linked to its director, Ashanti Regional New Patriotic Party(NPP) Chairman, Bernard Antwi Boasiako, widely known as Chairman Wontumi.
Dr Ayine earlier revealed that the company allegedly secured a GHS4 million loan from EXIM Bank using a forged document.
Investigators found that a document presented as a receipt from Casama Enterprise, purportedly confirming payment for heavy-duty farming and industrial equipment, including bulldozers and excavators, was in fact a proforma invoice.
According to the Attorney General, the word “invoice” was altered to read “receipt” and submitted to the bank as proof of payment.
The owner of Casama Enterprise later confirmed that no payment had been made and that only a proforma invoice had been issued to Wontumi Ghana Limited.
Dr Ayine added that despite assurances that the purchase would be completed, the transaction was never finalised.
The forged document, he said, falsely suggested that Casama Enterprise had received the full GHS4 million.
The Attorney General noted that the case underscores the government’s resolve to enforce accountability and safeguard state financial institutions from fraudulent practices.
He assured the public that the prosecution will proceed once all required documentation from EXIM Bank is finalised and filed in court.
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