Chairman Wontumi's GH¢30m EXIM Bank fraud case advances to trial after plea talks collapse

The high-profile fraud case against Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has moved closer to full trial after plea bargain negotiations between his legal team and the State broke down this week. The Accra High Court has now ordered the prosecution to file all evidence disclosures within 14 days, a critical step signalling that the case will proceed to open court proceedings.

Wontumi, who chairs the New Patriotic Party (NPP), and his co-accused Thomas Antwi-Boasiako face four charges: defrauding by false pretence, forgery, money laundering and intentionally causing financial loss to a public institution. The pair have consistently denied all allegations.

What the allegations involve

According to prosecution evidence, the accused obtained approximately GH¢14.3 million from the Ghana Export-Import Bank (EXIM Bank) between 2018 and 2022. The State alleges this was done through a company called Wontumi Farms Limited for a farming project that prosecutors claim was never actually executed.

Additionally, investigators allege that Wontumi submitted a forged receipt to support a subsequent application for an additional GH¢4 million credit facility from the same institution. Both accused maintain their innocence regarding these claims.

Plea bargain rejection signals tougher prosecution stance

The failed negotiations reveal a significant divide between what Wontumi's defence team was prepared to offer and what State prosecutors were willing to accept. Deputy Attorney-General Justice Srem-Sai made clear that the proposal submitted by the defence was insufficient to address the State's concerns. Local media reported that Wontumi's team had proposed making a financial payment to settle aspects of the case, but prosecutors rejected this as inadequate compensation for the alleged offence.

The rejection indicates that the State intends to pursue the case vigorously rather than seek a negotiated settlement. This is a significant development in what has become one of Ghana's most closely watched financial crime prosecutions.

Why it matters for Ghana

This case carries substantial implications for Ghana's anti-corruption environment and the judiciary's willingness to pursue high-profile cases involving senior political figures. The position of the Attorney-General's office—refusing to accept what appears to be a compromise settlement—demonstrates a commitment to thorough prosecution of financial crimes regardless of the accused's political standing.

The trial will now proceed in open court, likely attracting significant public attention. The disclosure of evidence by prosecution within the stipulated 14 days will mark the beginning of proper trial preparation and should eventually determine whether the allegations against Wontumi can be proven beyond reasonable doubt. The case also tests Ghana's institutional strength in holding powerful figures accountable for alleged misconduct.

Both the Defence and prosecution now have clearly defined timelines for the next phase of proceedings. Wontumi and his co-accused remain on bail pending trial.