Wontumi Pleads Not Guilty in GH¢30m EXIM Bank Fraud Case
The NPP Ashanti Regional Chairman denies multiple charges including fraud and money laundering as the court maintains his bail conditions in the ongoing EXIM Bank case.
- Bernard Antwi-Boasiako pleads not guilty to four charges, including causing financial loss to a public institution.
- Prosecution alleges GH¢14.3 million was disbursed for a farming project that was never executed.
- The court maintains existing bail conditions and adjourns the case to June 18, 2026.
He appeared before the court on Monday, May 18, 2026, where he denied allegations including defrauding by false pretence, money laundering, uttering forged documents, and intentionally causing financial loss to a public institution.
The case also involves Wontumi Farms Limited, a company linked to the accused, while a second suspect, identified as Thomas Antwi-Boasiako, is currently on the run and being sought by investigators.
Wontumi’s legal team, led by Andy Appiah-Kubi, requested that his existing bail conditions remain in force. The Deputy Attorney-General did not oppose the application, and the court upheld the request.
As a result, he remains on bail under previous conditions, including GH¢15 million in one case and GH¢10 million in another related matter.
The presiding judge adjourned the case to June 18, 2026, for a case management conference.
Prosecutors allege that in 2018, Wontumi applied for a GH¢19 million loan from EXIM Bank for a farming project under Wontumi Farms Limited.
Investigators claim the application included documents stating the company had secured about 100,000 acres of land, which they say was false.
They further allege that although about GH¢14.3 million was disbursed, no farming activities took place, no equipment was purchased, and no workers were employed.
Authorities also claim that documents presented as proof of equipment purchase were falsified, allegedly altered from a pro-forma invoice into a receipt to access additional funding.
According to investigators, parts of the funds were withdrawn and used for personal expenses and unrelated investments.
The case, which was investigated by the Economic and Organised Crime Office (EOCO), continues as authorities pursue the second accused person and prepare for the next stage of proceedings.
