Former New Patriotic Party (NPP) Ashanti Regional Chairman, Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has told the High Court that the Economic and Organised Crime Office (EOCO) is acting beyond its mandate by allegedly assuming the role of a debt collector in the Ghana Exim Bank loan dispute.

Chairman Wontumi and his company, Wontumi Farms, have filed a suit against the Ghana Export-Import (Exim) Bank, EOCO and the Attorney General, seeking a declaration that the criminal case arising from the loan dispute is essentially a civil matter.

The suit challenges the decision to pursue criminal charges against the plaintiffs over alleged offences including defrauding by false pretences, uttering a forged document, money laundering and intentionally causing financial loss to the state.

The plaintiffs contend that the dispute concerns an outstanding loan that should be resolved through civil proceedings rather than criminal prosecution. They argue that EOCO has overstepped its authority by treating the matter as a criminal case instead of allowing the bank to pursue recovery of the debt through the appropriate legal channels.

In their statement of claim, the plaintiffs, represented by lawyer Samuel Atta-Akyea, explained that the loan, valued at more than GH¢18 million, was obtained to finance an agricultural project.

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They stated that, as part of the loan agreement, Wontumi Farms provided a 10,000-acre parcel of land as mortgage security for the facility. Chairman Wontumi also personally guaranteed repayment of the loan in the event of default.

According to the plaintiffs, Ghana Exim Bank, as the lender, was also expected to secure insurance coverage for the loan as part of the arrangement.

However, they explained that the farming project encountered difficulties and eventually failed, resulting in significant financial losses.

The plaintiffs further claimed that although the farm recorded a bumper maize harvest at one point, four rivers surrounding the property overflowed their banks, destroying farmland and causing substantial damage to the agricultural project.

They said the situation was brought to the attention of Ghana Exim Bank, which allegedly assured them that steps would be taken to activate the insurance arrangement to settle the outstanding loan.

Chairman Wontumi and Wontumi Farms maintain that the loan was legitimately secured and that the project's failure resulted from circumstances that undermined their ability to repay the facility.

They therefore reject the suggestion that the dispute should be treated as a criminal matter, insisting that the outstanding amount constitutes a civil debt to be resolved in accordance with the loan agreement.

The plaintiffs are asking the court to declare that the dispute should be referred to the civil courts for determination.

They are also seeking an order directing Ghana Exim Bank to take steps to recover the outstanding amount through the mortgaged property, Chairman Wontumi's personal guarantee or the insurance cover that the bank allegedly undertook to secure.

The court's determination of the suit will address the plaintiffs' request to have the dispute treated as a civil matter, separate from the criminal proceedings arising from the loan transaction.

AM

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