New Patriotic Party national chairman hopeful, Bernard Boasiako Antwi, also known as Chairman Wontumi, is facing fresh criminal charges for intentionally causing financial loss of more than GH¢30 million to Ghana Export-Import Bank (GEXIM) Bank.
Mr Antwi, the first accused, Thomas Antwi-Boasiako, the second accused, now at large, together with Wontumi Farms Limited, have been charged with defrauding by false pretence, money laundering and uttering forged documents.
The accused allegedly received various sums from EXIM Bank Ghana with the intention to invest in a farming project.
It is the case of the State that sometime in January 2018, Mr Boasiako, the first accused, approached EXIM Bank for a grant GH¢90 million facility to embark on a farming venture.
The Deputy Attorney-General and Minister of Justice, Dr Justice Srem-Sai, said in a grant application letter that Wontumi, ostensibly as Wontumi Farms Limited Managing Director, declared that a parcel of land – 100,000 acres in size – has been secured for the project.
He said on January 16, 2018, the bank made a mixture of loan and grant facility offer of GH¢18,734,260.00 facility to Wontumi Farms to be spent on the purchase of agricultural plant and machinery, working capital and a grant for staff and labour cost, and consultancy fees.
Dr Srem-Sai also revealed that at 4 p.m. on January 23, 2018, Wontumi signed the acceptance in Kumasi in the presence of the second accused as witness.
He said by March 2018, the bank commenced disbursing the facility to Wontumi Farms Limited.
The Deputy Attorney-General and Minister of Justice mentioned that a total sum of GH¢14,302,000.00 was disbursed.
However, Dr Srem-Sai said investigations established that the accused did not undertake the proposed farming activity.
He said they bought no agricultural plant and machinery.
And also they employed no one to work on the farm. They did not own or secure the parcel of land which they represented to the bank as a parcel of land secured for the proposed farm.
It is the case of the State that sometime in March 2018, Wontumi presented a document which bore “Receipt” to the bank.
It disclosed that Wontumi presented the document as evidence that Wontumi Farms Limited had purchased GH¢4,000,000.00 worth of agricultural plant and machinery for the farm.
The State said that the bank relied on the document to advance more funds to Wontumi Farms Limited for the farm project.
It is the prosecution’s case that the document was not a genuine purchase receipt at all.
It was originally a pro-forma invoice issued by the KAS-SAMA ENTERPRISE to Wontumi when he made price inquiries.
The State said Wontumi, then, undertook to return later to make the purchase.
It stated that was the last time that KAS-SAMA ENTERPRISE heard from or saw Wontumi.
Dr Srem-Sai noted that investigations have established that the inscription “Pro-forma Invoice” on the document was altered and replaced with “Receipt”.
Again, he revealed that investigations have established that Wontumi withdrew huge sums of the funds from Wontumi Farms Limited bank accounts and spent the same for his personal use, including investing such sums in other business enterprises.
Dr Srem-Sai further disclosed that all efforts by the bank to recover the monies from the accused landed on rocks.
BY MALIK SULLEMANA
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