New Patriotic Party (NPP) Deputy General Secretary Haruna Mohammed has defended Ashanti Regional Chairman Bernard Antwi Boasiako, widely known as Chairman Wontumi, against criminal charges tied to an Exim Bank loan facility. The charges relate to an alleged multi-million cedi fraud and money laundering scheme involving a GHS 14.3 million loan. Mr. Mohammed stated that any irregularities in the loan's approval should be blamed on the bank, not the beneficiary.
Mohammed argued that Chairman Wontumi followed the correct procedures in obtaining the loan. He accused Attorney-General Dominic Ayine of attempting to criminalize political opponents before a court judgment. These statements came during an interview on Channel One TV on Sunday, May 17. Mr. Mohammed insisted Chairman Wontumi is being unfairly targeted for political reasons.
This case fits into a broader narrative of public scrutiny concerning state-backed loans and financial misconduct in Ghana. Allegations of financial impropriety and attempts to recover funds have been recurrent themes. Previous instances involving politically exposed persons and state institutions have drawn significant public attention. The government's efforts to instill financial discipline and combat corruption are often highlighted in such cases.
“The Ashanti Regional Chairman did not pick a cutlass to go to the bank to pick the loan,” Mr. Mohammed asserted. He added, “If for anything at all, he went through the due process. And if they think that something is wrong with regards to how he was given the loan, then it must be the bank, not him. In this particular circumstance, you can see that it’s a clear target.” This quote emphasizes the argument that the bank holds responsibility if procedural issues occurred.
The ongoing legal proceedings will determine the culpability of Chairman Wontumi and Wontumi Farms Limited. This case will test the judicial system's ability to handle complex financial fraud allegations transparently. The outcome could set important precedents for accountability in state-backed lending and influence public trust in financial institutions. Market observers and political analysts will closely watch the developments.
Chairman Wontumi, alongside Thomas Antwi Boasiako and Wontumi Farms Limited, faces four charges in the High Court in Accra. These charges include defrauding by false pretence, uttering forged documents, money laundering, and causing financial loss to a public institution. Prosecutors allege that Wontumi Farms Limited secured GHS 14.3 million from Exim Bank in 2018. This loan was allegedly obtained under the false premise of establishing a large-scale farming project.
The prosecution claims the company applied for a GHS 19 million loan facility. The application reportedly used documents asserting the acquisition of a 100,000-acre parcel of land for the proposed agricultural venture. These allegations form the core of the criminal case against Chairman Wontumi and his associates. The legal battle highlights the challenges in ensuring proper oversight of large financial transactions involving public funds.