AG’s Office Freezes Wontumi’s Assets, Including GH₵50 Million Insurance Company Account

Accra, Ghana — Monday, 22 December 2025

The Attorney-General’s Department has taken decisive legal action to freeze the assets of Bernard Antwi Boasiako, widely known as Chairman Wontumi, including a GH₵50 million bank account belonging to his Paradise Insurance Company. 

The asset freeze forms part of a broader investigation into alleged financial irregularities, fraud and money laundering involving Wontumi and his associated businesses. Authorities say the move is necessary to prevent the dissipation of suspected proceeds of crime while criminal and civil proceedings continue. 

The freezing order covers multiple accounts and assets linked to Wontumi’s business interests, with particular focus on a large deposit held in his insurance company’s account. This action was reportedly authorized under relevant anti-money laundering and asset recovery laws. 

Wontumi’s legal team recently sought to lift the freeze on one of the accounts, but the Accra High Court rejected the application, upholding the state’s authority to maintain restrictions during ongoing investigations. 

The Attorney-General, Dr Dominic Ayine, has also confirmed that Wontumi and his company Wontumi Farms Limited will be prosecuted for alleged loan fraud, forgery and causing financial loss to the state, following findings that the farming project funded by an Exim Bank loan never materialised. 

Supporters and political commentators continue to debate the implications of the legal actions, but the government says the enforcement measures are aimed at ensuring accountability and adherence to the rule of law.