The Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has been formally charged in an alleged fraud and money laundering case linked to a loan facility obtained from the Ghana Export-Import Bank (Exim Bank).
Court documents filed at the High Court in Accra indicate that Chairman Wontumi, together with Thomas Antwi Boasiako, who is reportedly at large, and Wontumi Farms Limited, are facing four criminal charges. The charges include defrauding by false pretence, uttering forged documents, money laundering, and intentionally causing financial loss to a public institution.
According to the charge sheet dated May 15, 2026, the accused persons allegedly secured about GH¢14.3 million from Exim Bank in 2018 for what was presented as a large-scale farming project.
Prosecutors claim Wontumi Farms Limited applied for a GH¢19 million loan facility and submitted documents indicating the company had acquired a 100,000-acre parcel of land for the proposed agricultural venture.
Investigators, however, allege that some of the supporting documents, including a board resolution and portions of the project proposal, were dated before the official incorporation of the company.
Although Exim Bank approved a facility of GH¢18.7 million, prosecutors say only GH¢14.3 million was eventually disbursed.
The prosecution further alleges that the funds were not used for the farming activities outlined in the loan application. Investigators claim no land was acquired, no farming operations took place, and no agricultural machinery was purchased despite assurances made to the bank.
Court documents also allege that Chairman Wontumi later presented a supposed receipt for GH¢4 million worth of agricultural equipment as proof of how part of the funds had been used.
However, investigators contend that the document was originally a pro-forma invoice which had allegedly been altered and falsely presented as evidence of payment and purchase.
Prosecutors say the alleged forged document was subsequently used to secure additional disbursements from the bank.
Under one of the charges, prosecutors accuse Chairman Wontumi of possessing part of the GH¢14.302 million between 2018 and 2022 while allegedly knowing the funds had been obtained through fraudulent means.
The charge sheet further alleges that Chairman Wontumi, Thomas Antwi Boasiako, and Wontumi Farms Limited caused financial loss exceeding GH¢30 million to Exim Bank in the course of the transaction.
Authorities also allege that large portions of the funds were diverted into personal use and unrelated business investments, while attempts by the bank to recover the money were unsuccessful.
The Attorney-General’s Department says investigations into the matter began in March 2025 and led to Chairman Wontumi’s arraignment on May 14, 2026.
He is expected to reappear before the High Court in Accra as proceedings continue.
