Exim Bank loan case is civil debt, not crime – Lawyer Atta Akyea

Bernard Antwi Boasiako, widely known as Chairman Wontumi, has entered a plea of not guilty to five charges in relation to the suspected fraudulent acquisition of a GH¢30 million loan from Ghana Export-Import Bank (Exim Bank). The legal proceedings have been postponed until Tuesday, October 27, 2026, at 11 a.m., for a case management conference.

The prosecution has been granted 14 days to present their supporting documents. Wontumi is currently co-accused with two others, and he appeared in court on the basis of a fresh charge sheet filed on September 22, 2026, regarding the loan secured in 2018. The five charges encompass defrauding through false pretenses, two instances of uttering forged documents, money laundering, and deliberately causing a financial loss of GH¢30 million to a public entity.

Prosecutors assert that Wontumi submitted forged and modified documents to Exim Bank in January 2018 to obtain funding for a planned agricultural venture. They claim that the accused parties failed to execute the intended farming operations, purchase agricultural equipment or hire labor for the farm. Furthermore, they allege that Wontumi did not possess nor secure the land he had represented to the bank as suitable for the project.

The prosecution also contends that Wontumi withdrew significant amounts from the bank accounts of Wontumi Farms Limited, the third accused, for personal use, including investments in other enterprises. Wontumi vehemently denies all the allegations. Following the court proceedings, he was returned to Nsawam Maximum Security Prison, where he is currently incarcerated for serving a 20-year sentence handed down by a differently constituted High Court in Accra.