EOCO seeks confiscation of Wontumi’s assets, including GH¢50m Treasury Bills and Akonta Mining concession

The Economic and Organized Crime Office (EOCO) has filed an application seeking to confiscate properties associated with former NPP Ashanti Regional Chairman Bernard Antwi-Boasiako, also known as Wontumi. These assets allegedly include GH¢50 million Treasury Bills through Paradise Insurance Limited, mining equipment, landed properties, vehicles, and investments.

The legal action is based on allegations that the properties were acquired using proceeds of crime. The EOCO's case centers on a fraudulent transaction involving Ghana EXIM Bank in 2018, for which Wontumi is currently on trial. The Office claims that Wontumi falsely represented to the bank that his company, Wontumi Farms Limited, had secured 100,000 acres of land for cultivation, when in reality only 5,000 acres were available and not registered.

The application also highlights discrepancies in a document presented as a receipt for farming equipment worth GH¢4 million, which was allegedly altered. Additionally, the EOCO alleges that Wontumi received an approximately GH¢80 million payment in January 2025 from COCOBOD under a contract with his company, Hallmark Civil Engineering Limited.

The Office contends that this payment, along with the EXIM Bank funds and earlier investments, constitutes tainted property and seeks the confiscation of the principal amount, accrued interest, maturity proceeds, and any renewed or substitute investments.