Accra: The Office of the Attorney-General is set to prosecute Wontumi Farms and its directors next year on charges of defrauding by false pretences, forgery, and causing financial loss to the state amounting to GHS24 million. This figure includes the principal sum and the accrued interest from a loan facility obtained by Wontumi Farms Ltd from Exim Bank.
According to Ghana News Agency, the Attorney-General revealed that the charges stem from a loan taken by Wontumi Farms Limited, a company established by Bernard Antwi Boasiako, the New Patriotic Party (NPP) Ashanti Regional Chairman, also known as Chairman Wontumi. Dr Ayine disclosed this information while presenting the final investigation reports conducted by the Economic and Organised Crime Office (EOCO) at the Government Accountability Series Press briefing in Accra.
He noted that the charges could increase due to compound interest by the time they are filed after the Christmas break. In March, EOCO arrested Chairman Wontumi on suspicion of involvement in a fraudulent transaction regarding a loan facility granted by Ghana Exim Bank under the Mining Alternative Livelihoods Initiative, a program designed to provide alternative livelihoods in areas affected by illegal mining.
Dr Ayine explained that the initiative aimed to ensure loans went to companies committed to job creation for young people in mining communities. In December 2017, Wontumi Farms Limited applied for a loan of GHS18 million to cultivate maize on 100,000 acres and employ youth. However, the company was not registered at the time of the application, a fact revealed by investigations showing its incorporation on December 14, 2017.
The company, with Bernard Antwi Boasiako as the sole shareholder, listed agribusiness and agro-processing as its main activities. Despite claims of securing land and intending to purchase agricultural equipment, the promised farming enterprise never materialized, and no employment opportunities were created. Furthermore, fraudulent misrepresentations and forged receipts were used to deceive Exim Bank into believing loan conditions were met.
Dr Ayine emphasized the severity of these criminal acts, highlighting the involvement of a prominent political figure, Chairman Wontumi. With evidence gathered by EOCO, the decision has been made to prosecute Wontumi Farms and its directors for their actions, which have resulted in significant financial loss to the state.