Counsel for businessman and former New Patriotic Party (NPP) Ashanti Regional Chairman, Bernard Antwi-Boasiako (popularly known as Chairman Wontumi),
Lawyer Samuel Atta Akyea has strongly rejected attempts to treat a Ghana Exim Bank loan facility as a criminal matter, describing such moves as a devaluation of a state institution.
Speaking on the issue, Atta Akyea accused the Attorney General of seeking to “rubbish” Exim Bank by implying that the bank is made up of “dummies” who can be induced to release funds on any paper presented.
“That is a devaluation of a state institution,” he said.
According to the lawyer, Wontumi presented documentation to Exim Bank, which conducted due diligence, found the papers worthy of credit, and duly granted the facilities.
“What is the criminality about this?” Atta Akyea asked. “I don’t see anything criminal about what has happened at all. If you owe money, you pay.”
He revealed that he has already initiated a civil suit against Exim Bank, the Attorney-General, and the Economic and Organised Crime Office (EOCO).
“This is a civil matter… it’s just a criminal thing that is masquerading as a crime,” he stated.
Lawyer Atta Akyea pointed to the agricultural nature of the underlying project and reports of an insurance policy that should have been available in the event the farms did not perform as expected.
He further argued that banks should pursue recovery through collateral securities where loans are secured rather than converting ordinary lending into criminal proceedings.
“If a man owes money, the bank should pursue the man for the money. If there were collateral securities upon which the loans were advanced so that in the event that you default, the bank will fall on the collateral securities. So be it. But to say that somebody goes to a bank for a loan and you want to convert it into a criminal thing, we’re going to fight it strong,” he said.
The lawyer indicated that the defence intends to apply to strike out some of the charges and will rigorously contest any suggestion that the bank relied improperly on documentation to advance the facility.
Wontumi and Wontumi Farms Limited are facing criminal charges, including defrauding by false pretences, uttering forged documents, money laundering and intentionally causing financial loss to a public body, in connection with a facility obtained from Ghana Exim Bank for a farming project.
The prosecution alleges significant losses to the bank. The accused have maintained that the dispute is contractual in nature.
In the parallel civil action, the plaintiffs are seeking a declaration that the matter is a civil debt, an account of the outstanding sum, and an order directing the bank to pursue recovery through the mortgaged land, personal guarantee and any insurance cover.
Source: Starrfm.com.gh
