Wontumi challenges EOCO’s handling of Exim Bank loan dispute

Former New Patriotic Party (NPP) Ashanti Regional Chairman Bernard Antwi Boasiako, popularly known as Chairman Wontumi, and Wontumi Farms are asking the High Court to stop the criminalisation of a loan dispute involving Ghana Exim Bank, arguing that the matter should be resolved through civil proceedings.

The plaintiffs have sued Ghana Exim Bank, the Economic and Organised Crime Office (EOCO) and the Attorney General following criminal proceedings over alleged offences including defrauding by false pretences, uttering a forged document, money laundering and intentionally causing financial loss to the state.

In their statement of claim, filed through their lawyer Samuel Atta-Akyea, they contend that the dispute centres on recovery of a loan exceeding GH¢18 million granted to finance a farming project.

They accuse EOCO of acting beyond its mandate by assuming the role of a debt collector and insist that the disagreement should be handled as a contractual matter.

The plaintiffs say a 10,000-acre parcel of land belonging to Wontumi Farms was used as collateral, while Chairman Wontumi personally guaranteed repayment if the farm defaulted. They also claim Ghana Exim Bank agreed to obtain insurance to cover the loan.

According to the claim, the farming venture suffered major losses after four rivers surrounding the property overflowed their banks and flooded the farmland.

The plaintiffs say the bank was informed of the damage and allegedly promised to activate the insurance arrangement to address the outstanding debt.

They deny obtaining the facility through deceit or engaging in criminal conduct.

They want the court to declare the dispute a civil debt matter, order Ghana Exim Bank to provide an account of the amount outstanding and direct the bank to pursue recovery through the mortgage, the personal guarantee or the insurance cover allegedly arranged for the loan.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.