The Accra High Court has scheduled February 22 to deliver its ruling on an application by the Economic and Organised Crime Office (EOCO) seeking the confiscation of assets belonging to businessman and New Patriotic Party (NPP) Ashanti Regional Chairman, Bernard Antwi Boasiako, popularly known as Chairman Wontumi.

The application is connected to an ongoing criminal case in which the state has accused him of causing a financial loss of more than GH¢30 million to the Ghana Export-Import Bank (Exim Bank).

The allegations against Chairman Wontumi include fraud, money laundering and the use of forged documents.

EOCO is seeking the court’s approval to confiscate assets linked to the case as part of efforts to recover property allegedly connected to the offences under investigation.

EOCO Seeks Confiscation of Assets

The application before the court focuses on assets belonging to Chairman Wontumi and forms part of the broader legal proceedings arising from the alleged financial loss involving Exim Bank.

Asset confiscation is a legal process through which authorities may seek to take possession of property believed to be connected to criminal activity, subject to the applicable law and the court’s determination.

EOCO’s application will require the court to consider the legal basis for the requested confiscation and the evidence presented in support of it.

The February 22 ruling is expected to clarify whether the office can proceed with its request.

Chairman Wontumi Faces GH¢30 Million Allegations

The criminal case centres on allegations that Chairman Wontumi caused financial loss exceeding GH¢30 million to Exim Bank.

The state has brought allegations involving fraud, money laundering and forged documents in connection with the matter.

These allegations form part of the prosecution’s case and have not been established as findings of guilt.

The proceedings remain subject to the court process, during which the accused has the opportunity to respond to the allegations and challenge the evidence presented by the prosecution.

Court’s Decision Awaited

The High Court’s ruling on February 22 will be an important development in EOCO’s efforts to secure the confiscation of the assets.

However, the decision on the confiscation application should be distinguished from the final determination of the criminal charges.

The court will have to consider the application within the relevant legal framework, while the criminal case will continue through its own proceedings.

Attention will therefore be on the court’s decision and the subsequent steps in the case involving Chairman Wontumi and the alleged financial loss to Exim Bank.

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