Wontumi Pleads Not Guilty to GH¢30m Exim Bank Fraud Charges

Bernard Antwi Boasiako, widely known as Chairman Wontumi, has entered a not guilty plea to five serious charges stemming from what authorities allege was a fraudulent scheme to obtain GH¢30 million from the Ghana Export-Import Bank. The Ashanti Regional Chairman of the New Patriotic Party (NPP) is facing trial alongside two co-accused in a case that centres on misrepresentation and alleged misuse of public funds.

The High Court in Accra has scheduled a case management conference for Tuesday, October 27, 2026, at 11 a.m., with the prosecution given a fortnight to submit all relevant disclosures to the defence. Wontumi was re-arraigned on an updated charge sheet filed on September 22, 2026, relating to events that date back to early 2018.

The Charges and Allegations

The five counts against Wontumi include defrauding by false pretence, uttering forged documents (two counts), money laundering, and intentionally causing financial loss to a public institution. According to prosecutors, Wontumi submitted forged and altered documents to Exim Bank in January 2018 to secure funding purportedly for a farming venture.

The state alleges that the accused persons misrepresented their capacity to execute the project. Specifically, the prosecution contends that:

• No actual farming activities were undertaken despite claims of a legitimate agricultural enterprise
• Agricultural equipment and machinery promised to the bank were never purchased
• The purported farm workers were never employed
• The land represented as secured for the project was neither owned nor legitimately secured

Prosecutors further claim that substantial sums were withdrawn from accounts belonging to Wontumi Farms Limited, the third accused entity, and diverted to personal use and investments in unrelated business ventures rather than the stated agricultural project.

Why This Matters for Ghana

The case represents a significant test of Ghana's commitment to tackling financial crime and protecting state-owned institutions from fraud. The Ghana Export-Import Bank is a critical development finance institution tasked with supporting legitimate trade and business initiatives. When public funds are allegedly misappropriated through false documentation, it undermines both the institution's ability to function and public confidence in governance structures.

The case also underscores ongoing concerns about accountability among high-profile political figures. Wontumi's position as a regional party chairman adds a governance dimension to what would ordinarily be a commercial fraud matter, raising questions about political accountability and the rule of law in Ghana.

Additionally, money laundering allegations suggest the scope extends beyond simple fraud to more sophisticated financial crimes. The prosecution's assertion that funds were diverted to other business investments indicates a pattern of deliberate misappropriation rather than innocent mismanagement.

Current Status and Background

Wontumi currently remains in custody at Nsawam Maximum Security Prison, where he is serving a separate 20-year sentence handed down by another High Court panel in Accra. This Exim Bank case runs concurrently with his existing conviction, meaning the outcomes of this trial could have further implications for his overall legal standing.

The structured pace set by the court—with a case management conference scheduled and prosecution disclosures due within two weeks—suggests the matter is progressing through the judicial system. The defence team will have opportunity to examine evidence and prepare responses before substantive trial proceedings commence.