In a significant turn in the ongoing GH¢30 million Exim Bank financial loss case, lawyers for the Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi-Boasiako, widely known as Chairman Wontumi, have formally initiated steps toward a plea bargaining agreement with the Attorney-General.
The development marks a potential shift in the high-profile prosecution in which the politician and businessman is standing trial alongside two others over allegations of misapplying an Exim Bank facility meant for agricultural development.
Court documents and filings confirm that the Deputy Attorney-General has officially notified the court of the commencement of plea negotiations, following a written request from Wontumi’s legal team.
The notice, filed pursuant to Section 162C(3) of the Criminal and Other Offences (Procedure) (Amendment) Act, 2022 (Act 1079), indicated that the 1st accused person, through his counsel, had approached the Attorney-General seeking discussions toward a negotiated resolution of the charges.
The case, titled Republic v Bernard Antwi-Boasiako alias Chairman Wontumi & 2 Others, stems from allegations involving a GH¢30 million Exim Bank facility allegedly diverted from its intended agricultural purpose.
Wontumi, who is the first accused, is facing charges of defrauding by false pretences, uttering forged documents, and money laundering, while he, together with Wontumi Farms Limited and another accused person, who is currently at large, is also charged with intentionally causing financial loss to a public institution.
He was first arraigned on May 18, 2026, where he denied all charges when his plea was taken. The matter was subsequently adjourned to June 18, 2026, for a Case Management Conference.
However, ahead of the next court appearance, defence counsel, led by Mr. Andy Appiah-Kubi, is reported to have written to the Attorney-General on June 5 and June 6, 2026, signalling willingness to explore plea negotiations.
Under Ghana’s criminal procedure framework, plea bargaining allows an accused person to accept responsibility for charges, or part of them, in exchange for a reduced sentence, possible restitution, or other agreed terms, subject to court approval.
The Attorney-General’s notification to the court confirms that the request has been received and is now formally on record, paving the way for structured discussions between the prosecution and defence.
Allegations at the Centre of the Case
According to brief facts filed by prosecutors, Wontumi, a 50-year-old entrepreneur from Kuntanase in the Ashanti Region, is the sole shareholder and director of Wontumi Farms Limited, alongside his co-director, Thomas Antwi-Boasiako, who is currently on the run.
The company, incorporated in December 2017, was established to engage in large-scale farming and agricultural processing.
Investigators allege that in January 2018, Wontumi applied to the Ghana Export-Import Bank for a facility of about GH¢19 million to finance an ambitious farming project.
In the application, he reportedly claimed that the company had secured 100,000 acres of land for the project and submitted supporting documents, including a board resolution and a project proposal.
Prosecutors contend that the board resolution presented was allegedly backdated, claiming approval was granted before the company was legally incorporated.
The project proposal further claimed that a portion of the farm would employ thousands of workers and support tens of thousands of dependents.
The Exim Bank subsequently approved a blended facility of GH¢18.7 million, part loan and part grant, intended for agricultural machinery, working capital, labour, and consultancy services.
Alleged Misapplication of Funds
Court documents allege that out of the approved facility, more than GH¢14.3 million was disbursed between March 2018 and subsequent months.
However, investigators say the intended farming project was never executed.
According to the prosecution, no agricultural machinery was purchased, no farm infrastructure was developed, and no workers were employed as proposed in the project documents.
A key allegation is that Wontumi submitted a document purporting to be a receipt for GH¢4 million worth of agricultural equipment, which investigators later determined was originally a pro-forma invoice allegedly altered into a receipt.
The document is said to have been used to justify further disbursements from the bank.
Prosecutors further allege that funds from the facility were withdrawn in large sums and diverted into personal and unrelated business activities, while efforts by the bank to recover the money reportedly proved unsuccessful.
Wider Investigations
The case file indicates that investigations into the transaction were initiated in March 2025 by the Economic and Organised Crime Office (EOCO) in collaboration with the Attorney-General’s Department.
Wontumi was subsequently arrested, cautioned, and formally charged in May 2026.
Meanwhile, authorities continue to search for the second accused person, Thomas Antwi-Boasiako, who remains at large.
The court is expected to resume proceedings on June 18, 2026, where the status of the plea negotiations may significantly influence the next phase of the trial.
