The Ashanti Regional Chairman of the New Patriotic Get together, Bernard Antwi-Boasiako, alias Chairman Wontumi, has been arraigned on new costs on the Excessive Court docket in Accra.
In accordance with the indictment filed by the Deputy Lawyer Common, Justice Slem Sy, Wontumi himself and Mr Thomas Antwi Boasiako, a director of Wontumi Farms Restricted, are suspected of utilizing pretexts to acquire GH¢14,302,000.00 from the Export-Import Financial institution of Ghana.
He’s additionally accused of utilizing a solid receipt to acquire 4,000,000 francs from the Export-Import Financial institution and uttering a solid doc with the aim of defrauding Export-Import Financial institution officers.
As soon as once more, he’s accused of receiving a part of CHF14,302,000 from Wangtumi Farms Restricted, which prosecutors declare was obtained by fraud.
The prosecution additional alleged that each one three accused, in the midst of their transactions with the Export-Import Financial institution of Ghana, deliberately induced the financial institution to lose greater than CHF30,000,000.
Thomas Antwi-Boasiako is at the moment on the run.
arraignment
Speaker Wontumi, who appeared earlier than a courtroom presided over by Justice Halima El Arawa Abdul Basit, pleaded not responsible to 4 costs of false fraud, forgery, cash laundering and deliberately inflicting financial lack of greater than GH¢30 million to a public physique.
He was later granted bail following a prayer for bail from his lawyer, Andy Appiah-Kubi.
The prosecution, led by Dr. Sreem Sai, didn’t oppose bail.
prosecution info
In accordance with the info of the case, in January 2018, Antwi-Boasiako approached the Export-Import Financial institution of Ghana (Export-Import Financial institution), ostensibly because the Managing Director of Wontumi Farms Restricted, to use for a grant of GHc 19 million to finance his agricultural enterprise.
Connected to the applying was a “board decision” purporting to approve the grant, signed by Thomas Antwi-Boasiako, who calls himself chairman of the board.
Prosecutors allege that the board decision was dated January 23, 2018, however ostensibly referred to a decision handed on December 9, 2017. That’s, a particular date 4 days earlier than Wontumi Farms Restricted was included and licensed to start operations on December 14, 2017.
The appliance additional indicated to the financial institution that 100,000 acres of land parcels have been put aside for the challenge and that the primary 2,500 hectares alone will make use of roughly 6,000 households, or roughly 38,000 people.
On January 16, 2018, the Financial institution accredited a blended mortgage and subsidy scheme of GH¢18,734,260.00 relevant to agricultural plant and equipment, working capital, workers and labor, and consultancy charges.
Bernard Antwi-Boasiako signed the letter of acceptance on January 23, 2018 in Kumasi with Thomas Antwi-Boasiako as a witness.
As much as March 2018, the Financial institution had paid a complete of GH¢14,302,000.00 to Wontumi Farms Restricted.
receipt
Someday in March 2018, Bernard Antwi-Boasiako submitted to the financial institution a doc marked with the phrase “receipt” indicating that Wontumi Farms had bought agricultural vegetation and equipment value CHF4,000,000.00.
Banks relied on this doc to ship extra funds to the corporate.
“Subsequent investigation revealed that this doc was not a real buy receipt. It was initially a proforma bill issued by KAS-SAMA Enterprises to Mr. Bernard Antwi Boasiako when he inquired concerning the value and indicated his intention to buy once more.”
“KAS-SAMA Enterprises didn’t hear from him once more. The phrase ‘provisional bill’ on the doc had been altered and changed with the phrase ‘receipt’,” prosecutors stated.
funds
In accordance with prosecutors, an investigation revealed that not one of the proposed agricultural actions had taken place.
“No agricultural vegetation or equipment have been bought, and no folks have been employed to work on the farms.
“The defendants didn’t personal or safe the land parcels they introduced to the financial institution as collateral for the challenge,” prosecutors stated.
As an alternative, Chairman Wontumi allegedly withdrew massive sums of cash from Wontumi Farms’ checking account and used the funds for private use, together with investments in different working corporations.
