The Economic and Organised Crime Office (EOCO) has reportedly frozen bank accounts belonging to Bernard Antwi Boasiako, widely known as Chairman Wontumi, containing about GH¢50 million as part of ongoing investigations.

According to Government spokesperson Felix Kwakye Ofosu, the action forms part of EOCO’s efforts to probe suspected financial irregularities and transactions linked to the businessman and politician.

Bernard Antwi Boasiako, who serves as the Ashanti Regional Chairman of the New Patriotic Party (NPP), is said to be assisting investigators as they examine the circumstances surrounding the funds.

He revealed that the EOCO had taken steps to secure large sums of money believed to be linked to various investigations.

“For instance, in Chairman Wontumi’s case alone, close to ¢50 million of money in his account has been frozen,” he said on JoyNews.

Kwakye Ofosu indicated that similar financial figures had also been identified in other high-profile cases currently under investigation.

“Similar figures are involved in the former Signals Bureau boss, Adu Boahen, case, for instance, in the National Service case and many others,” he added.

He also explained that the action forms part of a broader state effort to trace and secure assets linked to suspected corruption and financial misconduct.

According to him, the current freeze is part of a larger pool of assets that authorities have so far secured.

He said “But for now, what they can do is to freeze it, and they have done it, ¢1.5 billion,” and stressed that the asset freezes are temporary measures pending the outcome of legal proceedings.

He noted that the state cannot recover such assets outright until a court determines that they were obtained illegally.

“They are not going to be able to recover until the persons involved have been convicted by a court that then will give you an illegal remit to recover whatever it is that is alleged to have or the court would have found to have been stolen,” he added.

EOCO is mandated to investigate and prevent serious financial and economic crimes in the country, including money laundering, fraud, and organised financial offences.

Further details are expected to emerge as the investigations continue.