The High Court in Accra on Thursday granted the Attorney-General (AG) and the Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi-Boasiako, the go-ahead to negotiate a plea bargain agreement in connection with the alleged GH¢30 million Ghana Export-Import (EXIM) Bank fraud case.
The presiding judge, Justice Halimah El-Alawa Abdul-Baasit, adjourned the case to July 6, 2026, to allow the parties time to negotiate, conclude discussions and report back to the court.
The adjournment followed a submission by the Deputy Attorney-General and Minister of Justice, Dr Justice Srem-Sai, who informed the court that the Attorney-General had filed a notice of commencement of plea bargaining on June 11, 2026, and that both parties had agreed to a short adjournment to begin negotiations.
According to Dr Srem-Sai, lawyers for Mr Antwi-Boasiako, popularly known as Chairman Wontumi, approached the Attorney-General on June 5, seeking a plea bargain arrangement under the provisions of the 1992 Constitution and relevant laws.
Under the plea bargain process, the accused, who is presumed innocent until proven guilty, is exploring an option that could spare him a full trial and potentially harsher sanctions if convicted.
If the negotiations are successfully concluded, Mr Antwi-Boasiako could be required to refund the alleged GH¢30 million obtained from EXIM Bank, together with interest.
The court may then impose a non-custodial sentence, a fine, or a reduced custodial sentence, depending on the terms of the agreement and the court’s approval.
Mr Antwi-Boasiako, the first accused, Thomas Antwi-Boasiako, the second accused who is currently at large, and Wontumi Farms Limited have been charged with defrauding by false pretences, money laundering and uttering forged documents.
The prosecution alleges that the accused obtained funds from EXIM Bank under the pretext of investing in a farming project.
Presenting the facts of the case, Dr Srem-Sai stated that in January 2018, Mr Antwi-Boasiako, acting as Managing Director of Wontumi Farms Limited, applied to EXIM Bank for a GH¢90 million facility to undertake a large-scale farming venture.
In the application, he reportedly declared that a 100,000-acre parcel of land had been secured for the project.
The Deputy Attorney-General said EXIM Bank subsequently approved a combined loan and grant package amounting to GH¢18,734,260 for the purchase of agricultural machinery, working capital, staff and labour costs, and consultancy services.
According to the prosecution, Mr Antwi-Boasiako signed the acceptance of the facility on January 23, 2018, in Kumasi, with the second accused acting as a witness.
By March 2018, the bank had begun disbursing the funds, with a total of GH¢14,302,000 eventually released to Wontumi Farms Limited.
However, investigations allegedly revealed that the proposed farming project was never undertaken and that no agricultural machinery was purchased as claimed.
The prosecution further alleged that in March 2018, Mr Antwi-Boasiako submitted a document labelled “Receipt” to EXIM Bank as proof that Wontumi Farms Limited had purchased agricultural machinery worth GH¢4 million.
The State contends that the document was relied upon by the bank in approving further disbursements.
Investigations, however, allegedly established that the document was not a genuine receipt but a pro-forma invoice issued by KAS-SAMA Enterprise in response to a price inquiry.
According to the prosecution, the inscription “Pro-forma Invoice” was altered and replaced with the word “Receipt” before it was submitted to the bank.
Dr Srem-Sai further revealed to the court that investigations showed that substantial amounts withdrawn from the accounts of Wontumi Farms Limited were allegedly used for personal purposes and invested in other business ventures unrelated to the farming project.
He added that all attempts by EXIM Bank to recover the funds from the accused had proved unsuccessful.
BY MALIK SULLEMANA
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