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Wontumi Pleads Not Guilty to Five Charges in GH¢30m Exim Bank Loan Case
Bernard Antwi Boasiako, who goes by Chairman Wontumi, has pleaded not guilty to five charges. The charges relate to the alleged fraudulent procurement of a GH¢30 million loan from the Ghana Export-Import Bank. The court arraigned him on a new charge sheet that the prosecution filed on September 22, 2026. The loan dates back to 2018. Two other accused persons stand trial with him.
The court adjourned the case to Tuesday, October 27, 2026, at 11am for a case management conference. Meanwhile, the court gave the prosecution 14 days to file its disclosures.
The Five Charges Against Wontumi
The prosecution accuses Chairman Wontumi of the following:
- defrauding by false pretence
- uttering forged documents (two counts)
- money laundering
- intentionally causing financial loss of GH¢30 million to a public body
According to the prosecution, Wontumi presented forged and altered documents to Exim Bank in January 2018. He allegedly did so to secure funding for a proposed farming project.
Moreover, the prosecution alleges the accused persons never carried out the farming activities. They did not buy agricultural machinery or hire workers. In addition, they allegedly neither owned nor secured the land they described to the bank as available for the project.
Prosecution: Funds Went to Personal Use
The prosecution further contends that Wontumi withdrew substantial sums from the accounts of Wontumi Farms Limited. He allegedly spent the money on personal purposes, including investments in other businesses. The farming project did not receive the funds. However, Chairman Wontumi denied all five charges at the hearing.
Wontumi Returns to Nsawam Prison
After the proceedings, Chairman Wontumi returned to Nsawam Maximum Security Prison. He currently serves a 20-year sentence. A differently constituted High Court in Accra handed down that sentence. As a result, the Exim Bank loan case adds to the legal troubles of the former Ashanti Regional NPP Chairman. His prominent profile in Ghanaian politics and business keeps the case in the public eye.