Wontumi seeks plea deal in Exim Bank loan fraud case

A request by Chairman Wontumi’s lawyers has formally triggered plea negotiation procedures in the criminal case involving an alleged GH¢14.3 million loan fraud at the Ghana Export-Import Bank.

The development was placed before the Accra High Court on Thursday, June 11, 2026, through a Notification of Commencement of Plea Negotiation filed by the Deputy Attorney-General, Dr Justice Srem-Sai.

The notice follows a letter dated June 5, 2026, in which counsel for Bernard Antwi-Boasiako, Andy Appiah-Kubi, asked the Attorney-General to begin plea discussions in respect of the charges against his client.

The filing was made under Section 162C(3) of Act 30, which provides for plea negotiation in Ghana’s criminal justice process.

Wontumi, who is the Ashanti Regional Chairman of the New Patriotic Party, is the first accused in the case.

The other accused persons are Thomas Antwi-Boasiako, who is said to be at large, and Wontumi Farms Limited.

They are accused of defrauding by false pretence, authoring a forged document, money laundering and intentionally causing financial loss to a public institution.

The prosecution’s case is that Wontumi Farms Limited approached Exim Bank in 2018 for a GH¢19 million loan to finance a proposed large-scale agricultural project.

As part of the application, the company allegedly presented documents indicating that it had secured 100,000 acres of land for the project.

The State says about GH¢14.3 million was released by the bank, but the farming project for which the money was approved was never carried out.

According to prosecutors, there was no evidence that machinery was bought, workers were engaged or any farming activity took place after the disbursement.

The prosecution also alleges that some documents submitted in support of the loan application were false.

One of them, described as a board resolution letter, was dated January 23, 2018, but referred to a resolution said to have been passed on December 9, 2017.

The State contends that this was before Wontumi Farms Limited was incorporated on December 14, 2017.

Another document allegedly presented as proof of purchase of farm equipment is also said to have been falsified.

On the charge of causing financial loss, prosecutors allege that the transaction resulted in a loss of more than GH¢30 million to Exim Bank.

They further claim that substantial portions of the funds were diverted into personal use and unrelated business ventures.

Wontumi appeared before the court on May 18, 2026, and pleaded not guilty to all four charges.

The matter is expected back in court on June 18, 2026, for a Case Management Conference.

The Attorney-General’s Department has so far not commented publicly on the plea negotiation beyond the formal court notice.

Wontumi is also facing another matter before the Accra High Court involving Akonta Mining Limited and company director Kwame Antwi.

That case relates to alleged illegal mining activities at Samreboi, with judgment expected on July 3, 2026.