WONTUMI FARMS FORGED RECEIPT TO ACCESS EXIM BANK FUNDS – ATTORNEY GENERAL

WONTUMI FARMS FORGED RECEIPT TO ACCESS EXIM BANK FUNDS – ATTORNEY-GENERAL

The Attorney-General and Minister for Justice, Hon. Dr. Dominic Akuritinga Ayine (MP), has described the dealings between Wontumi Farms Limited and the Ghana Export-Import (ExIm) Bank as a clear case of fraud, misrepresentation, and forgery, following investigations into a controversial loan facility.

Addressing a press briefing, Dr. Ayine disclosed that Wontumi Farms Limited failed to provide a credible database of farmers or farmhands to IBAN Capital and ExIm Bank, despite claims that workers were actively engaged on the company’s farmlands.

According to Dr. Ayine, witnesses confirmed that Chairman Bernard Antwi Boasiako, popularly known as Chairman Wontumi and Chief Executive Officer of Wontumi Farms Limited, exerted pressure on IBAN Capital and ExIm Bank to transfer GHS 400,000 allegedly meant for workers’ wages directly into the company’s accounts.

The Attorney-General further revealed that as part of the loan application process, Wontumi Farms Limited submitted a pro forma invoice dated December 15, 2017, indicating plans to purchase agricultural equipment such as tractors, combine harvesters, corn seeders, and other farming machinery.

However, when ExIm Bank requested proof of purchase on March 18, 2018, Chairman Wontumi submitted what was presented as a receipt from Kasama Enterprise, valued at GHS 4 million.

The Attorney-General further revealed that a site visit by investigators uncovered only obsolete and non-functional machinery on the farm, including tractors manufactured in the 1970s, which did not correspond with the equipment represented to the bank.

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