The Attorney General and Minister for Justice, Dr Dominic Ayine, has announced that the state will prosecute Wontumi Farms and its directors for alleged financial crimes involving the Ghana Export-Import (EXIM) Bank.
The Economic and Organised Crime Office (EOCO) has uncovered sufficient evidence to support charges of defrauding by false pretences, forgery, and causing financial loss to the state. The alleged loss currently stands at GHS24,255,735, which includes the principal amount plus accrued interest.
Addressing the media in Accra on Monday, December 22, 2025, Dr Ayine explained that the final figure could rise further due to compounded interest before formal charges are filed.
He noted that prosecution will begin after the Christmas break once EXIM Bank confirms the exact outstanding amount.
“In the face of the evidence we have gathered in this investigation, thoroughly conducted by EOCO, we have made the decision to prosecute Wontumi Farms and its directors with defrauding by false pretences, forgery and causing financial loss to the state in the sum of GH¢24,255,735.
“This figure represents the principal sum plus the interest that has accrued so far. By the time we file charges, which will be definitely after the Christmas break, it might be that this figure would have increased because the interest on the principal keeps compounding.
“So we will get the exact figure of the amount that is involved in this criminal enterprise from the EXIM Bank before we file charges in court,” he said
The prosecution follows EOCO investigations into a loan transaction involving Wontumi Farms, linked to its director, popularly known as Chairman Wontumi.
Dr Ayine previously disclosed that the company secured a GHS4 million loan from EXIM Bank using a forged document.
Investigations revealed that Chairman Wontumi submitted a falsified receipt purportedly issued by Casama Enterprise to support the loan application.
The document claimed payment for heavy-duty farming and industrial equipment, including bulldozers and excavators. However, EOCO’s findings established that the document was originally a proforma invoice and not a receipt.
“The word invoice,” Dr Ayine explained, “was altered to read receipt and presented to the bank as proof of payment. The owner of Casama Enterprise later confirmed that no payment had been made and that only a proforma invoice had been issued to Wontumi Ghana Limited.”
Despite assurances to complete the purchase, the transaction was never finalised. The forged receipt falsely indicated that Casama Enterprise had received the full GHS4 million.
Dr Ayine emphasised that the case underscores the government’s commitment to enforcing accountability and protecting state financial institutions from fraudulent activities.
He assured the public that prosecution will proceed once all documentation from EXIM Bank is completed and filed in court.
Earlier this year, in June, EXIM Bank filed a civil lawsuit against Chairman Wontumi over an alleged unpaid loan reportedly worth $10 million for the farms.
The loan was linked to a large-scale maize farming project that sources suggest was abandoned, raising concerns about accountability in the use of state-backed agricultural financing.
Wontumi’s lawyer, Andy Appiah Kubi, confirmed that his client had received the writ and would respond in due course, noting that the case is a civil matter, not a criminal one.
