Wontumi pleads not guilty to five charges in GH¢30m loan case

Chairman Wontumi, also known as Antwi Boasiako, is set to return to court on October 27, 2026, for a hearing in a case involving a GH¢30 million loan fraud case. According to prosecutors, Wontumi is accused of defrauding the Ghana Export-Import Bank (Exim Bank) through the use of false documents and intentional financial loss to a public body.

The charges stem from a loan obtained in 2018 for a proposed farming project. Wontumi, who is standing trial with two others, has pleaded not guilty to all five charges, including fraud by false pretence, two counts of uttering forged documents, money laundering, and causing a financial loss to Exim Bank. Prosecutors allege that the documents used to secure the loan were forged or altered and that Wontumi and his associates failed to establish the farm, acquire equipment, hire workers, or provide the land as promised.

Wontumi is also accused of withdrawing large sums from the company's accounts for personal use. The prosecution has 14 days to file its case disclosures before the hearing. Wontumi is currently serving a 20-year prison sentence imposed in a separate case in Accra. The allegations in this case remain unproven.