Chairman Wontumi’s GHC24m EXIM Bank Scandal Unfolds

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Chairman Wontumi, the Ashanti Regional NPP Chairman, is facing prosecution for allegedly defrauding EXIM Bank of GHC24 million. The Attorney-General, Dr. Dominic Ayine, revealed that Wontumi forged a receipt from Kasama Enterprise, claiming to have purchased farm equipment worth GHC4 million.

The Forgery

Wontumi allegedly obtained a proforma invoice from Kasama Enterprise, removed the word “invoice,” and replaced it with “receipt” to deceive EXIM Bank. The owner of Kasama Enterprise confirmed that no payment was made, and only a proforma invoice was issued to Wontumi Ghana Limited.

The Loan Application

Wontumi Farms Limited applied for a GHC4 million loan from EXIM Bank, claiming to purchase heavy-duty farming equipment, including bulldozers and excavators. However, investigations found that the equipment was never purchased, and the farming enterprise never took off.

The Charges

The Attorney-General has announced that Wontumi Farms and its directors will be prosecuted for defrauding by false pretences, forgery, and causing financial loss to the state. The total financial loss, including principal and interest, stands at GHC24,255,735.

The Investigation

The Economic and Organised Crime Office (EOCO) conducted the investigation, revealing that Wontumi’s actions were a deliberate scheme to defraud the state. The Attorney-General emphasized that these actions constitute criminal conduct, not just a breach of contract.

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