Declare Exim Bank Loan Case A Civil Matter- Wontumi Asks Court
Former New Patriotic Party Ashanti Regional Chairman, Bernard Antwi Boasiako, popularly known as Chairman Wontumi and Wontumi Farms have filed a suit at the High Court seeking a declaration that the criminal case arising from the Ghana Exim Bank loan dispute is strictly a civil matter.
The suit, filed against the Ghana Export-Import (Exim) Bank, the Economic and Organised Crime Office (EOCO), and the Attorney General, follows a criminal case brought against the plaintiffs over alleged offences including defrauding by false pretences, uttering a forged document, money laundering, and intentionally causing financial loss to the state.
The plaintiffs argue that the matter is essentially a civil debt that has been improperly treated as a criminal case, with EOCO allegedly acting beyond its mandate by assuming the role of a debt collector.
They are also asking the court to order Ghana Exim Bank to account for the outstanding amount on the loan, which they say should be repaid by the plaintiffs in accordance with the terms of the loan agreement.
In the statement of claim, the plaintiffs, represented by Samuel Atta-Akyea, argue that the loan of more than GH¢18 million was procured to finance a farming project.
According to the plaintiffs, as part of the loan agreement, a 10,000-acre parcel of land owned by Wontumi Farms was mortgaged as security for the facility. Chairman Wontumi also personally guaranteed repayment of the loan in the event of a default, while Ghana Exim Bank, as the creditor, agreed to secure insurance for the loan.
The statement of claim further explains that the farm project for which the loan was advanced was unsuccessful. The plaintiffs say that even when the farm recorded a bumper maize harvest, four rivers surrounding the farm overflowed their banks, destroying the farmland and causing significant losses.
According to the plaintiffs, the circumstances were brought to the attention of Ghana Exim Bank, which allegedly promised to take steps to activate the insurance package to repay the outstanding loan.
They maintain that the loan was legitimately obtained and that there was no deceit or criminal conduct involved. They therefore insist that the matter remains a civil debt dispute and should not be treated as a criminal case.
The plaintiffs are consequently seeking a declaration that the matter be remitted to the civil courts for determination. They are also asking the court to direct Ghana Exim Bank to take steps to recover the outstanding loan through the mortgage security, the personal guarantee provided by Chairman Wontumi, or the insurance cover allegedly secured by the bank.
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