Bernard Antwi-Boasiako, also known as Chairman Wontumi, the Ashanti Regional Chairman of the New Patriotic Party (NPP), has begun plea talks with the state in the case where he is accused of causing the Ghana Export-Import (Exim) Bank to lose more than GH¢30 million.
His legal team, headed by Andy Appiah-Kubi, has submitted plea bargaining documents to the Attorney-General.
While Chairman Wontumi is on trial for defrauding by false pretence, forgery, money laundering, and purposefully causing financial harm to a public entity, an application for plea negotiations was submitted.
It is alleged that Chairman Wontumi and Thomas Antwi-Boasiako, a director of Wontumi Farms Limited, obtained GH¢14.3 million from Exim Bank under false pretences.
Additionally, the prosecution claims that Chairman Wontumi obtained an extra GH¢4 million from the bank by using a fake paper.
The prosecution also asserts that Chairman Wontumi obtained an extra GH¢4 million from the bank by using a fake paperwork.
Additionally, he is charged with laundering a portion of the money purportedly gained through illicit means, causing the state to lose more than GH¢30 million.
The two defendants have entered not guilty pleas to the accusations.
The prosecution claims that in January 2018, Chairman Wontumi, in his capacity as Managing Director of Wontumi Farms Limited, requested GH¢19 million in funding for an agricultural project from Exim Bank.
A board resolution allegedly approving the purchase and signed by board chairman Thomas Antwi-Boasiako was included with the application.
The prosecution argues that although the resolution was dated January 23, 2018, it really related to a resolution that was purportedly passed on December 9, 2017, four days prior to the company’s incorporation and authorisation to start operations on December 14, 2017.
Additionally, the application stated that 38,000 jobs would be created during the project’s first phase and that 100,000 acres of land had been secured for the project.
The bank then authorised a GH¢18.7 million facility that included a loan and grant package for the purchase of working capital, consulting services, and agricultural equipment.
According to the prosecution, Wontumi Farms Limited received GH¢14.3 million from Exim Bank by March 2018.
The prosecution further claims that Chairman Wontumi provided what seems to be a receipt in March 2018 to bolster a claim that the company had spent GH¢4 million on agricultural machinery.
The bank issued more money based on the document.
However, investigators claim that when Chairman Wontumi enquired about the equipment, KAS-SAMA Enterprise submitted a pro-forma invoice rather than a real receipt.
The prosecution claimed that the words “Pro-forma Invoice” and “Receipt” had been changed.
According to the prosecution, investigations have shown that none of the suggested farming operations were carried out.
It claims that no people were hired for the project, no farming operations were conducted, and no agricultural apparatus was bought.
Additionally, the prosecution argues that the accused individuals did not secure or own the land they claimed to have purchased for the farming endeavour.
Rather, it claims that significant sums taken from Wontumi Farms Limited’s accounts were invested in other businesses and spent for personal expenses.
Source: newsthemegh.com