Bernard Antwi-Boasiako, the Ashanti Regional Chairman of the New Patriotic Party (NPP), has been charged in connection with an alleged multi-million cedi fraud and money laundering scheme linked to a loan facility obtained from Ghana Export-Import Bank, according to court documents filed at the High Court in Accra.
Court filings dated 15 May said Bernard Antwi-Boasiako, alongside Wontumi Farms Limited and Thomas Antwi Boasiako, who prosecutors say is currently at large, faces four charges including defrauding by false pretence, uttering forged documents, money laundering and intentionally causing financial loss to a public institution.
According to prosecutors, Wontumi Farms Limited applied for a loan facility of about GHC19 million from Exim Bank in 2018 for a large-scale agricultural project, presenting documents which allegedly indicated the company had secured approximately 100,000 acres of land for the venture.
Court documents allege that some supporting documents submitted as part of the application, including a board resolution and project proposal, carried dates preceding the company’s incorporation.
Although Exim Bank approved a facility of GHC18.7 million, investigators said approximately GHC14.3 million was eventually disbursed.
Prosecutors allege that the funds were not used for the intended farming project and claimed no land acquisition, farming operations or agricultural equipment purchases were carried out as outlined in the application.
The charge sheet further alleges that a document presented as a receipt for GHC4 million worth of agricultural equipment had originally been a pro-forma invoice that was altered and later submitted as proof of payment to secure additional disbursements.
Under one of the charges, prosecutors allege that between 2018 and 2022, Chairman Wontumi took possession of part of the funds while knowing they had allegedly been obtained through fraudulent means.
Authorities further allege that the transaction caused financial losses exceeding GHC30 million to Exim Bank and that portions of the money were diverted into personal use and unrelated business investments.
The Attorney-General’s Department said investigations began in March 2025 and led to Wontumi’s arraignment on 14 May.
The case is expected to return to the High Court in Accra for further proceedings.
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