Government spokesperson Felix Kwakye Ofosu has disclosed that nearly GH¢50 million belonging to Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has been frozen as part of ongoing investigations into suspected financial crimes.
Speaking during an interview on PM Express on Joy News, the Abura Asebu-Kwamankese Member of Parliament explained that the action was taken by the Economic and Organised Crime Office as part of wider investigations involving suspected corruption and financial misconduct.
“For instance, in Chairman Wontumi’s case alone, close to ¢50 million of money in his account has been frozen,” Mr. Kwakye Ofosu said.
According to him, the freezing of the funds forms part of a broader effort by investigators to track and secure assets believed to be linked to ongoing financial crime investigations. He noted that authorities are examining multiple high profile cases and that significant sums have been identified in several of them.
“Similar figures are involved in the former Signals Bureau boss, Adu Boahen, case, for instance, in the National Service case and many others,” he stated.
Mr. Kwakye Ofosu further explained that these asset freezes are precautionary measures designed to prevent suspected illicit funds from being moved or dissipated while investigations continue.
“But for now, what they can do is to freeze it, and they have done it, ¢1.5 billion,” he said, referring to the total value of assets that authorities have secured so far in related investigations.
He emphasised that although assets may be frozen during investigations, the government cannot permanently recover them unless the courts determine that the funds were obtained illegally.
“They are not going to be able to recover until the persons involved have been convicted by a court that then will give you an illegal remit to recover whatever it is that is alleged to have or the court would have found to have been stolen,” he explained.
Mr. Kwakye Ofosu also addressed public debate surrounding earlier comments by John Dramani Mahama about funds recovered by EOCO.
“Indeed, there were those who accused the President of misleading them when he said that EOCO had recovered ¢600 million,” he said.
He clarified that the amount referenced by the President related to routine financial crime investigations handled by EOCO rather than funds specifically tied to the high profile corruption probes currently under scrutiny.
“That was in respect of the normal everyday cases that the EOCO handles,” he explained.
The government spokesperson added that EOCO’s work extends beyond corruption investigations and covers a wide range of organised financial crimes.
“Because they deal with issues of money laundering, cyber crime, cross border crime, carjacking, and what have you. So those are regular things that they do,” he said.
Mr. Kwakye Ofosu also noted that authorities are continuing to trace additional assets linked to the ongoing investigations.
“This is even for the cases that they’ve been able to touch, those that they’ve not touched,” he said.
“They are still in the process of tracing this asset.”
He explained that asset tracing is a routine part of investigations involving suspected financial wrongdoing.
“You know that anytime that anybody comes under investigation or is undergoing prosecution, they do concurrent tracing of assets,” he said.
According to him, the objective is to ensure that suspected proceeds of crime are secured early in the investigative process.
“So that as much as possible we secure what we believe will be commenced with to the amounts involved in offences that would have been completed.”
The development forms part of broader efforts by the government and investigative agencies to clamp down on corruption and recover assets suspected to have been acquired through illicit means.