Chairman Wontumi, the Ashanti Regional Chairman of the New Patriotic Party (NPP), has been charged at the High Court in Accra over allegations of fraud and causing financial loss of about GH¢30 million to the Ghana Export–Import Bank (EXIM Bank).
According to court documents filed by the Attorney-General’s office, Wontumi, together with his company Wontumi Farms Limited and another individual said to be at large, allegedly obtained a loan facility from EXIM Bank under false pretences for an agricultural project.
The prosecution claims that in 2017, Wontumi Farms applied for a facility to develop large-scale commercial farming, representing that it had acquired about 100,000 acres of land and was positioned to create thousands of jobs.
The state further alleges that forged documents, including falsified receipts, were submitted to support the loan application.
Investigators say the company received about GH¢18.7 million as part of the facility, but the intended farming project was never executed.
According to the brief facts, no land development, machinery acquisition, or large-scale agricultural activities were undertaken as proposed.
The prosecution further alleges that the funds were diverted and not used for the intended purpose, resulting in significant financial exposure to EXIM Bank, estimated at over GH¢30 million including interest and liabilities.
Wontumi is facing multiple charges including defrauding by false pretences, forgery, uttering forged documents, money laundering, and causing financial loss to a public institution.
His legal team is expected to contest the charges, maintaining that the transactions were legitimate corporate dealings and denying any criminal intent.
The case is expected to proceed at the High Court in Accra as further hearings are scheduled.
