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), in the Ghana Export-Import (EXIM) Bank fraud case. Deputy Attorney-General and Minister of Justice, Dr. Justice Srem-Sai, announced this decision to journalists in Accra on Tuesday, stating the proposed amount was inadequate. The state is demanding the full GHS 30 million, along with all accrued interest, from Mr. Antwi-Boasiako, popularly known as Chairman Wontumi.
This rejection stems from charges of defrauding by false pretence, money laundering, and uttering forged documents against Mr. Antwi-Boasiako, Thomas Antwi-Boasiako, and Wontumi Farms Limited. The charges relate to an alleged fraudulent application for an EXIM Bank facility in January 2018 for a purported large-scale farming project. Investigations revealed that the proposed project was never undertaken, and no agricultural machinery was purchased as claimed, despite a significant disbursement of funds.
The case underscores Ghana's broader commitment to tackling financial fraud and ensuring accountability in the use of public funds, particularly those designated for economic development initiatives. The EXIM Bank, established to support export-oriented businesses and promote economic growth, relies on the integrity of its loan processes. Incidents of alleged fraud undermine public trust and divert crucial resources from legitimate projects that could otherwise boost the national economy and create jobs.
Dr. Justice Srem-Sai confirmed that the Attorney-General's Office has yet to formally meet Mr. Antwi-Boasiako's legal team to communicate its official position on the proposed settlement. This follows an Accra High Court ruling on June 5, which granted the parties 30 days to conclude plea bargain negotiations. Mr. Antwi-Boasiako initiated these discussions after being charged with fraudulently obtaining the EXIM Bank facility.
The implications of this rejection are significant for the ongoing legal proceedings and for the broader fight against financial crime in Ghana. It signals the Attorney-General's firm stance on recovering public funds and pursuing full restitution in cases of alleged fraud. Decision-makers and the public will closely watch how the legal process unfolds, especially concerning the recovery of the GHS 14.3 million disbursed to Wontumi Farms Limited. The outcome will likely influence future plea bargain negotiations and reinforce the importance of due diligence in financial transactions involving state institutions.
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. If approved, the court may impose a fine, a non-custodial sentence, or other lawful punishment. However, the state's rejection of the GHS 30 million offer indicates a belief that the proposed settlement does not adequately reflect the gravity or financial impact of the alleged offenses. The prosecution alleges that substantial portions of the funds were diverted to personal and other business ventures, and EXIM Bank's efforts to recover the money have been unsuccessful.
This case also comes shortly after Mr. Antwi-Boasiako was sentenced to 20 years' imprisonment by the Accra High Court for facilitating illegal mining activities on his concession in Samreboi. This prior conviction adds another layer of scrutiny to his legal challenges and public standing. The Attorney-General's insistence on the full GHS 30 million plus interest highlights the state's determination to recover all funds lost due to alleged fraudulent activities, reinforcing the principle that financial crimes will be met with robust legal action.