Government spokesperson Felix Kwakye Ofosu has disclosed that nearly GH¢50 million belonging to Bernard Antwi-Boasiako, the Ashanti Regional Chairman of the New Patriotic Party, has been frozen as part of ongoing investigations into suspected financial crimes.
For instance, in Chairman Wontumi’s case alone, close to ¢50 million of money in his account has been frozen,” he said.
Kwakye Ofosu indicated that similar financial figures had also been identified in other high-profile cases currently under investigation.
“Similar figures are involved in the former Signals Bureau boss, Adu Boahen, case, for instance, in the National Service case and many others,” he added.
He explained that the action forms part of a broader state effort to trace and secure assets linked to suspected corruption and financial misconduct.
According to him, the current freeze is part of a larger pool of assets that authorities have so far secured.
“But for now, what they can do is to freeze it, and they have done it, ¢1.5 billion.”
Kwakye Ofosu stressed that the asset freezes are temporary measures pending the outcome of legal proceedings.
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.”
The government spokesperson also addressed the earlier public debate over comments by John Mahama regarding 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 noted.
Kwakye Ofosu clarified that the amount cited by the President referred to routine investigations handled by EOCO.
“That was in respect of the normal everyday cases that the EOCO handles.”
He explained that the agency’s work covers a wide range of financial and organised 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.”
However, he said the investigations currently attracting public attention involve suspected corruption and financial crimes that must go through legal processes before any recovery can take place.
Mr Kwakye Ofosu added that authorities are still working to identify additional assets linked to ongoing investigations.
“This is even for the cases that they’ve been able to touch, those that they’ve not touched.”
“They are still in the process of tracing this asset.”
He explained that asset tracing is a standard component of criminal investigations involving financial crimes.
“You know that anytime that anybody comes under investigation or is undergoing prosecution, they do concurrent tracing of assets.”
He said the objective is to ensure suspected proceeds of crime are secured before cases are concluded.
“So that as much as possible we secure what we believe will be commensurate with the amounts involved in offences that would have been committed.”
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