Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty to five charges in connection with an alleged GH¢30 million fraud involving the Ghana Export-Import Bank (EXIM Bank).
The former New Patriotic Party (NPP) Ashanti Regional Chairman, who is standing trial alongside two others, denied all charges when he appeared before an Accra High Court on Tuesday, October 13, 2026. The charges include defrauding by false pretences, two counts of uttering forged documents, money laundering, and intentionally causing financial loss of GH¢30 million to a public body.
The prosecution has been given 14 days to file its disclosures, and the case has been adjourned to Tuesday, October 27, 2026, at 11:00 a.m. for a case management conference. Following the proceedings, Wontumi was returned to Nsawam Maximum Security Prison, where he is currently serving a separate 20-year sentence imposed by a differently constituted High Court in Accra.
The Charges and the Amended Charge Sheet
The accused persons were arraigned on a new charge sheet filed on September 22, 2026, after the state withdrew an earlier charge sheet dated May 15, 2026, which had preferred four charges. The amended charge sheet, dated September 19, 2026, retains the charge of uttering a forged document under Section 169 of the Criminal Offences Act, 1960 (Act 29), but identifies the allegedly forged document as a pro-forma invoice from EPSONS Ghana Limited.
According to the charge sheet, Wontumi allegedly used the document in 2017 in the Greater Accra Region, knowing it was not genuine, with the intent to defraud EXIM Bank officials and obtain GH¢4 million from the bank. The charge of intentionally causing financial loss is contrary to Section 179A(2) of the Criminal Offences Act, 1960 (Act 29).
The Prosecution’s Case
The prosecution alleges that Wontumi presented forged and altered documents to EXIM Bank in January 2018 to secure funding for a proposed farming project. According to the state, the accused persons did not carry out the proposed farming activities, purchase agricultural plant and machinery, or employ workers for the farm. The prosecution further alleges that they neither owned nor secured the parcel of land they had represented to the bank as available for the project.
The prosecution also contends that Wontumi withdrew substantial sums from the bank accounts of Wontumi Farms Limited, the third accused, and used the funds for personal purposes, including investments in other businesses.
The case has its roots in an investigation by the Economic and Organised Crime Office (EOCO) into a credit facility obtained through Wontumi Farms Limited. According to the prosecution, Wontumi Farms was incorporated on December 14, 2017, to undertake farming and agricultural processing activities, with Wontumi as the sole shareholder and one of two directors. In January 2018, Wontumi approached EXIM Bank for a GH¢19 million facility to support a farming venture, stating that a 100,000-acre parcel of land had been secured for the project.
The bank approved a facility of GH¢18,734,260 for the purchase of agricultural machinery, working capital, staff and labour costs, and consultancy fees. By March 2018, the bank had disbursed GH¢14,302,000 to Wontumi Farms. Investigations, however, allegedly established that the proposed farming project was never undertaken, no machinery was purchased, and the land claimed to have been secured for the project was neither owned nor acquired by the accused persons.
The prosecution further alleges that Wontumi presented a document described as a receipt for the purchase of GH¢4 million worth of agricultural machinery to secure additional disbursement from the bank. Investigations allegedly revealed that the document was originally a pro-forma invoice issued by KAS-SAMA Enterprise and had been altered by replacing the inscription “Pro-forma Invoice” with “Receipt”. The owner of KAS-SAMA Enterprise confirmed to investigators that no payment was ever received and that no receipt was issued to Wontumi Farms Limited.
The Attorney-General, Dr Dominic Ayine, previously disclosed that at the time the loan application — including a purported board resolution — was submitted, Wontumi Farms Limited had not been registered and therefore had no legal existence. The company was only incorporated on December 14, 2017, after the loan process had already been initiated.
The Defence’s Position: A Civil Matter, Not a Crime
Wontumi’s legal team, led by veteran lawyer and former Member of Parliament Samuel Atta Akyea, has maintained that the dispute is essentially civil and concerns the repayment of a loan facility rather than a criminal matter.
Mr Antwi-Boasiako and Wontumi Farms have filed a separate suit at the High Court seeking a declaration that the dispute over the loan repayment is civil in nature and should not be prosecuted as a criminal case. The suit names EXIM Bank, EOCO, and the Attorney-General as defendants.
In their statement of claim, the plaintiffs argue that a 10,000-acre parcel of land owned by Wontumi Farms was provided as mortgage security for the loan, while Chairman Wontumi personally guaranteed repayment in the event of default. They further claim that EXIM Bank undertook to secure insurance coverage for the facility.
The plaintiffs say the farming project suffered significant losses after four rivers surrounding the property overflowed their banks, flooding the farmland. They contend that the bank was informed about the damage and allegedly assured them that the insurance arrangement would be activated to address the outstanding debt.
They also accuse EOCO of exceeding its mandate by acting as a debt collector instead of treating the matter as a civil loan dispute. Mr Atta Akyea maintains that the disagreement should be resolved through civil proceedings rather than criminal prosecution.
The plaintiffs are asking the court to declare the dispute a civil debt matter and compel EXIM Bank to provide a detailed account of the outstanding amount. They also want the bank to pursue recovery through the mortgaged property, the personal guarantee, or the insurance policy they claim was arranged to cover the loan.
Failed Plea Bargain Attempts
The trial follows the collapse of plea bargain negotiations between Wontumi’s legal team and the Office of the Attorney-General. Wontumi officially requested plea negotiations in June 2026 through his then-lawyer, Andy Appiah-Kubi. On July 27, 2026, Deputy Attorney-General Dr. Justice Srem-Sai told the court that the negotiations were “far advanced,” although an earlier settlement proposal of GH¢30 million was rejected by the state because it did not include accrued interest.
However, on August 27, 2026, Principal State Attorney Reverend Joshua Sackey informed the court that the parties had been unable to reach an agreement. The trial judge noted that attempts at plea bargaining had failed on two occasions and that the 30-day period for the process had elapsed. The court consequently directed the state to file its disclosures to pave the way for a case management conference.
Background: Who is Chairman Wontumi?
Bernard Antwi Boasiako is a prominent Ghanaian businessman and politician who served as the Ashanti Regional Chairman of the New Patriotic Party. He was a significant figure in the NPP’s political machinery and was known for his vocal support of the party’s agenda in the Ashanti Region, a traditional stronghold of the NPP.
He is currently serving a 20-year prison sentence in a separate illegal mining case, also known as the Samreboi Case, imposed by a differently constituted High Court in Accra. His lawyers have hinted at filing an appeal against that conviction.
Wontumi is standing trial alongside two other accused persons in the EXIM Bank case. An associate, Thomas Antwi Boasiako, is alleged to have committed the offences with him and is still at large.
What Happens Next
The case will return to court on October 27, 2026, for a case management conference, where the prosecution is expected to file its disclosures. The accused persons have denied all charges, and the allegations remain before the court and have not been established as facts.
