Bernard Antwi Boasiako, widely known as Chairman Wontumi, is facing serious allegations in connection with an alleged GH¢30 million fraud case involving the Ghana Export-Import Bank (Exim Bank).
Court documents filed at the High Court in Accra reveal that Bernard Antwi Boasiako, also known as Thomas Antwi Boasiako, together with Wontumi Farms Limited, is facing four criminal charges, including defrauding by false pretence, forgery of documents, money laundering, and intentionally causing financial loss to a public institution.
According to the charge sheet dated May 15, 2026, the accused allegedly obtained approximately GH¢14.3 million from the Ghana Exim Bank in 2018 under the pretext of establishing a large-scale agricultural project.
Prosecutors say Wontumi Farms Limited applied for a GH¢19 million loan facility and presented documents claiming the company had secured a 100,000-acre tract of land for the proposed farming venture.
The prosecution further alleges that the company submitted supporting documents, including a board resolution and project proposal, some of which were reportedly dated before the company was officially incorporated.
Although the bank approved a facility amounting to GH¢18.7 million, investigators say only GH¢14.3 million was eventually disbursed.
However, prosecutors contend that the funds were not used for the farming activities outlined in the loan application. Investigators claim no land was acquired, no farming operations were undertaken, and no agricultural equipment was purchased despite representations made to the bank.
The charge sheet also alleges that Bernard Antwi Boasiako later submitted a purported receipt for GH¢4 million worth of agricultural machinery to justify part of the expenditure.
Investigators, however, allege that the document was originally a pro-forma invoice that had been altered and falsely presented as evidence of payment and purchase. Prosecutors further claim the alleged forged document was subsequently used to secure additional disbursements from the bank.
Under Count Three of the charge sheet, prosecutors allege that between 2018 and 2022, Chairman Wontumi knowingly possessed part of the GH¢14.302 million obtained through fraudulent means.
Count Four further accuses Chairman Wontumi, Thomas Antwi Boasiako, and Wontumi Farms Limited of causing financial loss exceeding GH¢30 million to the Ghana Exim Bank during the transaction.
Authorities also allege that substantial portions of the funds were diverted into personal expenses and unrelated business investments, while efforts by the bank to recover the money proved unsuccessful.
The Attorney-General’s Department says investigations into the matter began in March 2025 and led to Chairman Wontumi’s arraignment on May 14, 2026.
The accused is expected to reappear before the High Court in Accra as proceedings continue.
