Dr Dominic Ayine, the Attorney General and Minister for Justice, has revealed that the Ashanti Regional Chairman of the NPP, Chairman Wontumi’s assets have been frozen.
Addressing the media in Accra on Monday, December 22, the Attorney General revealed that Wontumi’s assets have been frozen, including a ₵50 million account belonging to his insurance company.
The Attorney General made this known while also disclosing that Wontumi forged a receipt to secure a GH¢4m EXIM bank loan.
According to the Attorney-General, Chairman Wontumi and his company, Wontumi Farms Limited, made fraudulent misrepresentations to Exim Bank to obtain the loan facility.
He revealed that investigations conducted by the Economic and Organised Crime Office revealed evidence of defrauding by false pretences, forgery, and causing financial loss to the state.
Dr Dominic Ayine announced that Bernard Antwi Boasiako, chief promoter of Wontumi Farms, Exim Bank approved a medium term-loan facility of Ghs18,734,260.00, which included a grant component of Ghs6,768,260.00.
This offer was accepted via a letter dated January 23, 2018, and Chairman Wontumi, acting as the Chief Executive Officer of Wontumi Farms Limited and Thomas Antwi Boasiako, as director of Wontumi Farms Limited.
The invoice was submitted on December 15, 2017, as part of the loan application process.
Subsequently, Exim Bank demanded proof that the equipment had been purchased. On March 18, 2018, Chairman Wontumi submitted a receipt from Kas-Sama Enterprise for the purchase of the equipment in the sum of Ghs4 Million.
However, and this is where it gets interesting, the equipment purchased, as shown on the said receipt, included a bulldozer and an excavator.
Dr Dominic Ayine detailed, “Our investigations established that Chairman Wontumi had approached Kas-Sama Enterprise, an industrial equipment dealer and obtained an invoice with a promise to return to purchase the said equipment. He never went back to purchase the equipment. Instead, he forged the invoice he obtained from Kas-Sama Enterprise by removing the word “invoice” and replacing it with “receipt”.
This forged receipt was then submitted to Exim Bank as proof that he had purchased the said equipment after the disbursement.
The owner of Kas-Sama Enterprise confirmed to investigators that the only document he issued to Wontumi Farms through Chairman Wontumi was an invoice and not a receipt.
He stated that after he issued the invoice, he never heard from Chairman Wontumi again despite repeated follow-upcalls.
The forged receipt submitted to Exim Bank suggested that Kas-Sama Enterprise acknowledged receipt of Four Million Ghana Cedis for the purchase of earth-moving machines and farming equipment. The so-called receipt had on it “50 days to supply and 1 year guarantee and service, meaning that it was a pro-form invoice and not a receipt of payment”.
The Attorney General further revealed that prosecution will commence after the Christmas break, following the exact amount being confirmed by EXIM Bank.
He added, “In the face of the evidence we have gathered in this investigation, thoroughly conducted by EOCO, we have made the decision to prosecute Wontumi farms, and it’s directors with defrauding by false pretences, forgery and causing financial loss to the state in the sum of GHS24,255,735.
“This figure represents the principal sum plus the interest that has accrued so far. By the time we file charges, which will definitely be after the Christmas break, it might be that this figure would have increased because the interest on the principal keeps compounding.
“So we will get the exact figure of the amount that is involved in this criminal enterprise from the EXIM bank before we file charges in court.”
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AG's office freezes Wontumi's assets, including a ₵50 million account belonging to his insurance company…#GHOneNews #EIBNetwork #GHOneTV #NewsAlert pic.twitter.com/zcwsHB0hXj
— GHOne TV (@ghonetv) December 22, 2025