Brooklyn: Former Goldman Sachs investment banker and Ghanaian national Asante Kwaku Berko has been convicted on all counts in a federal bribery case involving bribes paid to Ghanaian government officials to facilitate the development of a power plant in Ghana. The United States Attorney's Office for the Eastern District of New York announced that Berko was found guilty of conspiracy to violate the Foreign Corrupt Practices Act (FCPA), violating the FCPA, and conspiracy to commit money laundering.
According to Ghana Web, the conviction came after a nine-day trial overseen by United States District Judge Diane Gujarati. Berko, a dual citizen of the United States and Ghana, now faces up to 30 years in prison and has been ordered to remain in custody pending sentencing. The verdict was jointly announced by United States Attorney Joseph Nocella, Jr., Assistant Attorney General A. Tysen Duva, and FBI Assistant Director James C. Barnacle, Jr.
The case highlighted Berko's exploitation of his access to high-level government officials and his position at Goldman Sachs to secure financial gain through corrupt practices. The verdict underscores the U.S. Department of Justice's commitment to combating corruption that undermines fair competition in the global economy.
Berko's scheme involved conspiring to pay over $1 million in bribes to Ghanaian officials, ensuring the Turkish energy company Aksa Enerji Uretim A.S. won its bid for the power plant project in Ghana. The bribes were strategically paid to government officials, including the Ghanaian Minister of Power, to facilitate project approvals and secure parliamentary ratification.
Efforts to conceal the corrupt activities involved deceitful communications, falsified documents, and the laundering of funds through shell companies and foreign bank accounts. Despite these efforts, the corruption concerns eventually led Goldman Sachs to withdraw from the deal.
The prosecution was managed by the Business and Securities Fraud Section of the United States Attorney's Office for the Eastern District of New York in collaboration with the Criminal Division's Fraud Section. Assistant United States Attorneys Jessica Weigel, Nick M. Axelrod, and Tara McGrath, along with Assistant Chief Katherine Raut and Senior Trial Attorney Katherine Nielsen, led the case, supported by paralegal specialists.
The successful conviction is attributed to the significant assistance from international partners, including the United Kingdom's National Centre Bureau for INTERPOL and the U.S. Marshals Service, which played a crucial role in the arrest and extradition of Berko.