The Office of the Attorney-General has rejected a GHS 30 million settlement offer from Bernard Antwi-Boasiako, the Ashanti Regional Chairman of the New Patriotic Party (NPP). This offer was part of a plea bargain arrangement in the Ghana Export-Import (EXIM) Bank fraud case. The State deemed the proposed amount inadequate, demanding the full GHS 30 million plus accrued interest.
Deputy Attorney-General and Minister of Justice, Dr. Justice Srem-Sai, confirmed this decision to journalists in Accra on Tuesday. He stated that the Attorney-General's Office had not yet formally communicated its position to Mr. Antwi-Boasiako's legal team. The rejection underscores the State's firm stance on recovering public funds allegedly obtained through fraudulent means.
This development is significant within Ghana's broader fight against financial crime and corruption. The case highlights the government's commitment to prosecuting individuals accused of misusing state resources, regardless of their political affiliation. It also reflects increasing scrutiny on the use of public funds, particularly those allocated for economic development initiatives like the EXIM Bank facility.
Dr. Srem-Sai's comments came shortly after the Accra High Court sentenced Mr. Antwi-Boasiako to 20 years' imprisonment for facilitating illegal mining activities. This separate conviction adds another layer of legal complexity to Mr. Antwi-Boasiako's ongoing legal challenges. The High Court had previously granted 30 days for plea bargain negotiations in the EXIM Bank case, a period that has now seen the State reject the initial offer.
Mr. Antwi-Boasiako initiated plea bargain discussions after facing charges of defrauding by false pretence, money laundering, and uttering forged documents. These charges stem from allegations that he obtained an EXIM Bank facility through fraudulent means for a purported large-scale farming project. Under Ghana's plea bargaining regime, an accused person can avoid a full trial by reaching an agreement with the prosecution, subject to court approval. Such agreements can result in fines, non-custodial sentences, or other lawful punishments.
The prosecution alleges that Mr. Antwi-Boasiako applied to EXIM Bank in January 2018 for financial support. He claimed to have secured approximately 100,000 acres of land for a large-scale farming project. The bank subsequently approved a loan and grant facility totaling GHS 18.73 million. Of this amount, GHS 14.3 million was disbursed to Wontumi Farms Limited, a company linked to Mr. Antwi-Boasiako.
Investigations, however, allegedly revealed that the proposed farming project was never undertaken. Furthermore, no agricultural machinery was purchased as claimed by the accused. The prosecution also alleged that Mr. Antwi-Boasiako submitted an altered document to EXIM Bank. This document, purporting to be proof of purchase for agricultural equipment valued at GHS 4 million, was intended to facilitate the release of additional funds. Investigations showed the document was originally a pro forma invoice from KAS-SAMA Enterprise, not a receipt.
The State further alleges that substantial portions of the disbursed funds were withdrawn and diverted to personal and other business ventures. Efforts by EXIM Bank to recover the money have reportedly been unsuccessful. This case highlights the importance of robust due diligence and oversight in the disbursement of public funds. It also underscores the potential for significant financial losses when such processes are compromised.
The rejection of the plea bargain means the case will likely proceed to a full trial, unless a new, more acceptable settlement is reached. This outcome will be closely watched by the public and financial institutions. It could set a precedent for how similar cases involving high-profile individuals and public funds are handled in Ghana. The implications for investor confidence and the integrity of Ghana's financial sector are considerable.