Prominent businessman and politician Bernard Antwi Boasiako, widely known as Chairman Wontumi, is facing serious allegations in connection with an alleged GH¢30 million fraud case involving Ghana Export-Import (EXIM) Bank.

Fresh court filings at the High Court in Accra have detailed serious fraud allegations against Wontumi, Thomas Antwi Boasiako, and Wontumi Farms Limited over an alleged multi-million-cedi transaction involving Ghana Exim Bank.

The accused persons are facing four criminal charges — defrauding by false pretence, forgery, money laundering, and causing financial loss to a public institution.

According to prosecutors, Wontumi Farms Limited sought a GH¢19 million facility from Exim Bank in 2018 for what was described as a large-scale farming project spanning 100,000 acres.

Court documents allege the company relied on several supporting documents, including a board resolution and project proposal, some of which investigators claim were prepared before the company was legally registered.

Although the bank approved GH¢18.7 million, investigators say approximately GH¢14.3 million was eventually released to the company.

Prosecutors allege the funds were never used for the stated agricultural purposes. Investigators claim no land was secured, no farming activities took place, and no machinery was purchased despite assurances given to the bank.

The charge sheet further alleges that Chairman Wontumi later submitted documentation claiming the purchase of GH¢4 million worth of agricultural equipment. However, investigators contend the document was merely a modified pro-forma invoice allegedly altered to appear as proof of payment.

According to the prosecution, the disputed document was subsequently used to secure additional releases from the loan facility.

Court filings further allege that between 2018 and 2022, Chairman Wontumi knowingly handled part of the GH¢14.302 million allegedly obtained through fraudulent means.

Prosecutors also accuse the accused persons of causing financial loss exceeding GH¢30 million to the Ghana Exim Bank, alleging that large portions of the funds were redirected into personal use and unrelated business ventures.

The Attorney-General’s Department says investigations began in March 2025 and resulted in Chairman Wontumi’s appearance before the High Court on May 14, 2026.