Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has pleaded not guilty to five charges related to an alleged fraudulent GH¢30 million loan obtained from the Ghana Export-Import Bank (Exim Bank).

According to a report by myjoyonline.com, the court adjourned the case to Tuesday, October 27, 2026, at 11 a.m. for a management conference.

Wontumi’s Exim Bank case goes to trial after failing to reach plea deal

The prosecution has also been directed to file its disclosures within 14 days.

Following the court proceedings, Wontumi returned to Nsawam Maximum Security Prison, where he is currently serving a 20-year prison sentence imposed through a different case, and by a different High Court in Accra.

Background

Wontumi is standing trial alongside two other accused persons over the loan, which was obtained in 2018 for a proposed farming project.

The three were arraigned on a new charge sheet filed on September 22, 2026.

The charges include defrauding by false pretence, two counts of uttering forged documents, money laundering, and intentionally causing financial loss of GH¢30 million to a public body.

According to the prosecution, Wontumi allegedly presented forged and altered documents to Exim Bank in January 2018 to secure funding for the proposed farming project.

The prosecution further alleged that the accused persons failed to undertake the planned farming activities, purchase agricultural plant and machinery, or employ workers for the project.

It also contended that the accused persons neither owned nor secured the parcel of land they had represented to the bank as available for the farming venture.

Additionally, the prosecution alleges that Wontumi withdrew substantial amounts from the bank accounts of Wontumi Farms Limited, the third accused, and used the funds for personal purposes, including investments in other businesses.

NA/EB