Asante Kwaku Berko, former Managing Director of Tema Oil Refinery (TOR), has been convicted in the United States for his involvement in a bribery and money laundering scheme. A federal jury in Brooklyn found Mr. Berko guilty on all counts brought against him. The charges relate to a 2014/15 AKSA power plant project during Ghana's 'dumsor' era.
The verdict was delivered on August 6, 2026, after a nine-day trial at the US District Court for the Eastern District of New York. Mr. Berko, a dual US-Ghanaian citizen, faces a maximum combined sentence of up to 30 years in prison. His sentencing is scheduled for November 10, 2026, when the court will determine the actual punishment.
This conviction highlights ongoing efforts to combat corruption involving foreign officials and US financial systems. Ghana has a history of challenges with corruption, impacting its economic development and investor confidence. The 'dumsor' era, characterized by severe power outages, significantly hampered economic activity and productivity across the country. Such cases underscore the importance of transparency and accountability in large-scale infrastructure projects.
US prosecutors alleged Mr. Berko used his position and access to the American financial system to facilitate over US$1 million in bribes. These bribes were intended for Ghanaian government officials. The payments were connected to a multimillion-dollar power plant project involving Turkish energy company Aksa Enerji Uretim A.S. Mr. Berko was an executive director at Goldman Sachs' investment banking division at the time.
The charges against Mr. Berko included conspiracy to violate the US Foreign Corrupt Practices Act (FCPA). He was also charged with violating the FCPA and conspiracy to commit money laundering. The FCPA makes it illegal for US companies and individuals to bribe foreign government officials to obtain or retain business. This law aims to level the playing field for international business and prevent unfair competition.
Mr. Berko's legal proceedings in the US have spanned several years. He was arrested in the United Kingdom in November 2022 following an Interpol Red Notice. He was subsequently extradited to the United States in July 2024 to face the charges. The case involved a power plant transaction developed and financed between December 2014 and July 2015. Mr. Berko managed this transaction between Aksa Enerji and the Government of Ghana.
This conviction sends a strong message about the consequences of engaging in corrupt practices, especially those involving international financial systems. It could lead to increased scrutiny of past and future large-scale government contracts in Ghana. Investors and international partners will likely monitor Ghana's commitment to anti-corruption measures more closely. The outcome of the sentencing will be a key indicator of the severity with which such offenses are treated.