KEY POINTS
- Wontumi Farms allegedly defrauded EXIM Bank of over GH₵24 million.
- Forged receipt falsely claimed payment for heavy-duty equipment.
- Government emphasizes accountability and protection of state financial institutions.
Ghana’s Attorney-General and Minister of Justice, Dr Dominic Ayine, confirmed the government will prosecute Wontumi Farms and its directors for allegedly defrauding the Export-Import (EXIM) Bank, committing forgery, and causing the state a financial loss exceeding GH₵24 million.
While speaking at the Government Accountability Series on December 22, Dr Ayine said the company had submitted falsified documentation to secure a GH₵4 million loan. “These are not mere breaches of a contract,” he said. “They constitute acts of criminality.”
Forged receipts misled exim bank
Investigations by the Economic and Organised Crime Office (EOCO) revealed that Wontumi Farms and its CEO allegedly submitted a falsified receipt purportedly from Casama Enterprise, claiming payment for heavy-duty farming and industrial equipment including bulldozers and excavators. EOCO found the document was actually a proforma invoice, with the word “invoice” altered to read “receipt.” Casama Enterprise later confirmed that it had not received any payment and that the transaction never went through.
The total financial loss, including principal and interest, is GH₵24,225,735. Dr Ayine explained that the prosecution decision follows a comprehensive probe by EOCO, which gathered substantial evidence implicating the company and its leadership.
Government commits to accountability
Dr Ayine further said the case underscores the government’s commitment to protecting state financial institutions and enforcing accountability. He assured that the prosecution will proceed once EXIM Bank finalises and submits all necessary documentation to the courts.
The Attorney-General said, “This prosecution demonstrates that no individual or company is above the law,” emphasizing that fraudulent practices targeting public funds will face full legal scrutiny.
