Ghana’s Economic and Organised Crime Office (EOCO) has intensified investigations into the Ghanaian dimension of a bribery case involving former Goldman Sachs banker and Tema Oil Refinery (TOR) Managing Director Asante Kwaku Berko, following his conviction in the United States.
EOCO said it had been directed by the Attorney-General to step up its investigations and had begun tracing funds and assets that may be linked to the alleged bribery scheme involving Ghanaian government officials.
Berko, a dual Ghanaian-American citizen, was convicted by a federal jury in Brooklyn on Aug. 6 on charges of conspiracy to violate the U.S. Foreign Corrupt Practices Act, violating the FCPA and money laundering conspiracy.
He faces up to 30 years in prison when sentenced.
U.S. prosecutors said Berko conspired with others to pay more than $1 million in bribes to multiple Ghanaian government officials to secure approvals for the development and financing of a power plant by Turkish energy company Aksa Enerji.
According to evidence presented at trial, the alleged payments included discussions of $1 million to Ghana’s then-power minister and $250,000 to a senior adviser.
Prosecutors also said payments were made to officials who travelled to Turkey to inspect equipment for the proposed plant.
The allegations relate to the AKSA power project, which was developed during Ghana’s severe electricity shortages and became operational in 2017.
EOCO said it had been monitoring developments in the case and, within its statutory mandate, had engaged with relevant authorities over the Ghanaian dimension of the matter.
The anti-graft agency said its investigation would include tracing funds and assets linked to the alleged scheme and pursuing recovery where supported by evidence.
“EOCO will not disclose sensitive operational information that could compromise ongoing investigations, the integrity of evidence or any future prosecution,” the agency said.
The U.S. case has renewed scrutiny in Ghana over the identities of officials allegedly involved in the scheme and the circumstances surrounding the approval of the AKSA project.
EOCO STATEMENT ON THE CONVICTION OF ASANTE BERKO CASE AND RELATED INVESTIGATIONS
The Economic and Organised Crime Office (EOCO) acknowledges the substantial public interest in the case involving Mr. Asante Kwaku Berko, a former Goldman Sachs investment banker who subsequently served as Managing Director of the Tema Oil Refinery (TOR) in respect of allegations of bribery arising from his period in the private sector.
EOCO wishes to assure the public that it has been attentive to the developments in this matter and has, within its statutory mandate, been engaged with the relevant authorities regarding the Ghanaian dimension of the case.
Last year, EOCO received a request from its counterparts in the United States in connection with investigations into the alleged bribery scheme.
The request sought information relating to specific individuals in Ghana who were considered relevant to the investigations, including a former Minister of State and public servants.
Following receipt of the request, EOCO, in collaboration with the Attorney-General and Ministry of Justice, commenced preliminary work in relation to the Ghanaian aspects of the matter.
The Office also closely monitored the proceedings in the United States.
Given the nature of the allegations and the international dimensions of the case, EOCO considered the evidence emerging from the U.S. proceedings to be potentially material to determining the appropriate scope and direction of any comprehensive investigation in Ghana.
This approach was deliberate. EOCO’s responsibility is not merely to commence investigations for the sake of public perception, but to ensure that investigations are properly grounded in evidence conducted lawfully and capable where appropriate of supporting subsequent criminal proceedings and asset-recovery action.
Following the conclusion of the proceedings in the United States and the conviction of Mr Asante Berko, the Attorney-General and Minister of Justice immediately engaged the appropriate US authorities and will through lawful channels obtain relevant evidence, records and information necessary to advance the Ghanaian investigation which began last year.
The Attorney-General has subsequently directed EOCO to escalate its investigations as the relevant information and official records are obtained from the competent authorities in the United States.
EOCO has accordingly commenced the process of intensifying its investigation into the Ghanaian dimension of the matter.
Importantly, and consistent with its statutory mandate, asset tracking and recovery form an integral part of EOCO’s investigative plan in this matter.
The Office will examine where supported by evidence, whether any proceeds, benefits, assets or property may have been derived from or connected to suspected criminal conduct and where the law permits, pursue the appropriate measures for their preservation, recovery and restitution to the State.
EOCO’s mandate extends beyond establishing whether an offence has been committed. Where economic or organised crime results in the unlawful acquisition or dissipation of public resources. The recovery of such resources is an essential component of the investigative and enforcement process.
The Office therefore intends to follow the evidence and financial trail, including any relevant transactions, beneficiaries, assets and proceeds that may fall within its jurisdiction.
EOCO wishes to emphasize, however that the conclusion of proceedings against Mr. Berko in the United States does not, by itself, establish criminal liability on the part of any person in Ghana.
Any individual whose name appears in evidence obtained through the international cooperation process will be assessed independently on the basis of the evidence relevant to that person and in accordance with Ghanaian law.
EOCO further wishes to assure the public that its collaboration with U.S. law-enforcement authorities and the Attorney-General’s Office remains active. The process of obtaining relevant records through lawful international cooperation is critical to ensuring that any Ghanaian investigation is comprehensive evidence-based and capable of producing a lawful outcome.
The Office appreciates the legitimate public interest in this matter. At the same time, EOCO will not disclose sensitive operation information that could compromise ongoing investigations, the integrity of evidence or any future prosecution.
EOCO remains committed to following the evidence without fear or favour, identifying and investigating economic and organised crime within its mandate, and pursuing the recovery of assets and public resources where the evidence and the law so require.
Further information will be provided at the appropriate time.
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