Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has been formally charged with fraud and money laundering in connection with an alleged GH¢30 million scandal involving a loan facility from the Ghana Export-Import Bank (Exim Bank).
Court documents filed at the High Court in Accra indicate that Wontumi, alongside Thomas Antwi Boasiako (who is currently at large) and Wontumi Farms Limited, face four criminal charges. These include defrauding by false pretence, authoring forged documents, money laundering, and intentionally causing financial loss to a public institution.
According to the charge sheet dated May 15, 2026, Wontumi Farms Limited applied for a GH¢19 million loan in 2018 for a large-scale farming project. The company allegedly presented documents claiming ownership or access to a 100,000-acre parcel of land, along with a board resolution and project proposal.
Prosecutors say Exim Bank approved GH¢18.7 million and disbursed GH¢14.3 million. However, investigations revealed that no land was acquired, no farming activities took place, and no agricultural machinery was purchased as stated in the loan application.
The prosecution further alleges that Chairman Wontumi submitted a forged document — originally a pro-forma invoice altered to look like a receipt for GH¢4 million worth of equipment — to justify withdrawals and secure additional disbursements.
Authorities claim substantial portions of the funds were diverted for personal use and unrelated investments, resulting in financial loss to Exim Bank exceeding GH¢30 million. Efforts by the bank to recover the money have reportedly been unsuccessful.