The Attorney-General and Minister of Justice, Dr. Dominic Ayine, announced today that the government will prosecute Wontumi Farms Limited and its directors.
The charges include defrauding Ghana Exim Bank, forgery, and causing over GH¢24 million in financial loss to the state.
Dr. Ayine spoke during a government accountability series event. He addressed journalists in Accra on Monday.
The case centers on Bernard Antwi Boasiako, known as Chairman Wontumi. He serves as the Ashanti Regional Chairman of the New Patriotic Party (NPP). Wontumi is also the sole shareholder, director, and CEO of Wontumi Farms.
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In March 2025, the Economic and Organized Crime Office (EOCO) arrested Wontumi. EOCO acted on solid intelligence. They suspected fraud in a loan from Ghana Exim Bank. The loan fell under the bank’s Mining Alternative Livelihoods Initiative.
This initiative aims to help youth in illegal mining areas. It provides loans for farming and job creation. Exim Bank wants companies to buy equipment and hire locals in mining communities like Asare Nkwatia.
Wontumi Farms applied for a loan in 2017. They submitted a proforma invoice on December 15. It listed farm equipment like tractors, harvesters, corn seeders, and boots.
The total came to GH¢4 million.
Exim Bank approved and disbursed the funds. They later demanded proof of purchase. On March 18, 2018, Wontumi submitted a receipt from Kas-Sama Enterprise. It claimed payment for the equipment.
Forged Receipt
Investigations revealed a twist. The receipt listed a bulldozer and excavator, not farm tools. Kas-Sama Enterprise is an industrial dealer. Its owner confirmed issuing only an invoice, not a receipt.
Wontumi got the invoice with a promise to buy later. He never returned. Instead, he altered it. He changed “invoice” to “receipt.” The fake document included terms like “50 days to supply” and “1-year guarantee.” These prove it was not a payment receipt.
Kas-Sama’s owner told investigators he followed up repeatedly. Wontumi ignored all calls. No equipment was ever bought or delivered.
EOCO found no trace of the equipment. Loan terms required registering machines in the names of Exim Bank and Wontumi Farms. Wontumi failed to do so.
During questioning, he claimed he bought “secondhand brand new” gear. He said he sent all receipts to the bank.
Exim Bank denies this. They received only the forged receipt. No other purchase documents exist.
No Jobs, No Farm, Massive Loss
The farm project never started. No youth got jobs in Asare Nkwatia. The full loss to the state hit GH¢24,255,735. This includes principal and accrued interest.
Dr. Ayine stressed the crimes go beyond loan breaches. “Wontumi Farms and Chairman Wontumi made fraudulent misrepresentations,” he said.
“They forged a receipt to deceive Exim Bank. These are not mere breaches of a loan contract but constitute acts of criminality by no mean a person than the regional chairman of the then ruling Party.”
EOCO’s probe was thorough. The evidence is clear. Prosecution will proceed on defrauding by false pretenses, forgery, and financial loss to the state.
Source: www.Kumasimail.com
