Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty to five charges relating to the alleged fraudulent acquisition of a GH¢30 million loan from the Ghana Export-Import Bank (Exim Bank).
The case has been adjourned to Tuesday, October 27, 2026, at 11 a.m. for a case management conference, with the prosecution directed to file the relevant disclosures within 14 days.
Wontumi, who is standing trial alongside two other accused persons, was arraigned on a new charge sheet filed on September 22, 2026, in connection with the loan obtained in 2018.
The five charges comprise defrauding by false pretence, two counts of uttering forged documents, money laundering and intentionally causing financial loss of GH¢30 million to a public body.
Prosecution outlines alleged fraud
According to the prosecution, Wontumi allegedly presented forged and altered documents to Exim Bank in January 2018 to secure financing for a proposed farming project.
The prosecution alleges that the accused persons failed to undertake the proposed farming activities, purchase agricultural plant and machinery, or employ workers for the project.
It further contends that the accused persons neither owned nor secured the parcel of land they had represented to the bank as being available for the proposed farming venture.
The prosecution also alleges that Wontumi withdrew substantial sums from the bank accounts of Wontumi Farms Limited, the third accused, and diverted the funds to personal purposes, including investments in other businesses.
Wontumi has denied all five charges.
Wontumi returned to prison
Following the court proceedings, Wontumi was returned to Nsawam Maximum Security Prison, where he is serving a 20-year sentence imposed by a differently constituted High Court in Accra.
The next hearing in the Exim Bank loan case is scheduled for October 27, 2026, when the court is expected to hold a case management conference as the prosecution and defence prepare for the continuation of proceedings.
