The Attorney-General and Minister for Justice, Dominic Ayine, is working with United States authorities to pursue individuals allegedly implicated in a bribery scheme connected to the financing of a major power plant project in Ghana.
Deputy Attorney-General Justice Srem-Sai disclosed this on Saturday, August 8, following the conviction of Ghanaian-American businessman and former Goldman Sachs executive, Asante Kwaku Berko, by a federal jury in Brooklyn, New York.
Berko was found guilty of conspiracy to violate the United States Foreign Corrupt Practices Act (FCPA), violating the FCPA, and conspiracy to commit money laundering.
Justice Srem-Sai said the Attorney-General is engaging his US counterparts as part of efforts to bring other persons allegedly involved in the scheme to justice.
The development follows a nine-day trial before Judge Diane Gujarati of the US District Court for the Eastern District of New York.
According to the US Department of Justice (DOJ), Berko played a central role in a scheme to facilitate more than US$1 million in bribes to Ghanaian government officials in connection with a multimillion-dollar power plant project between 2014 and 2017.
Power plant deal
Prosecutors said Berko, who was an Executive Director at Goldman Sachs, helped arrange financing for a deal between a Turkish energy company and the Government of Ghana for the construction and financing of a power plant.
The project was pursued during a period when Ghana was facing a severe electricity crisis and was seeking additional generation capacity.
Evidence presented at trial showed that Berko and his co-conspirators allegedly planned in April 2015 to pay US$1 million to Ghana’s then Minister of Power to facilitate the project.
Five Ghanaian government officials were also allegedly given US$5,000 each during an all-expenses-paid trip to Turkey to inspect equipment for the proposed plant.
Prosecutors further alleged that Berko personally made tens of thousands of dollars in additional illicit payments linked to the project.
The power plant agreement was subsequently approved by Ghana’s Parliament in July 2015.
According to the DOJ, emails presented during the trial showed Berko and his alleged co-conspirators discussing the payments after Parliament’s approval of the agreement.
Alleged attempts to conceal payments
US prosecutors said Berko took steps to conceal the alleged bribery scheme from Goldman Sachs and other parties involved in the transaction.
The DOJ said shell companies, fraudulent invoices, nominee bank accounts and cash withdrawals were allegedly used to disguise the payments.
The alleged funds were transferred through bank accounts in the United States and other jurisdictions, including accounts held in Berko’s name.
Goldman Sachs eventually withdrew from the transaction after corruption concerns emerged.
Berko faces up to 30 years
Following his conviction, Berko faces a maximum possible sentence of 30 years in prison. He is scheduled to be sentenced in November.
His criminal conviction follows earlier civil proceedings by the US Securities and Exchange Commission (SEC) over the same bribery allegations.
In June 2021, the SEC obtained a final judgment against Berko, permanently barring him from violating the anti-bribery provisions of the FCPA.
He was also ordered to disgorge US$275,000 in alleged illicit gains and pay more than US$54,000 in prejudgment interest.
Berko was extradited to the United States from the United Kingdom in July 2024 after his arrest in London in November 2022 under an Interpol Diffusion Notice.
US authorities condemn corruption
Assistant Attorney General Tysen Duva of the US Department of Justice’s Criminal Division said the conviction demonstrated that corruption would have consequences, particularly where it undermines fair competition.
He accused Berko of abusing his position at Goldman Sachs to facilitate the alleged bribery of Ghanaian officials for the benefit of himself and his co-conspirators, including senior executives of a Turkish company.
The FBI also criticised Berko’s conduct, with Acting Assistant Director of the FBI’s Criminal Division, Matthew Floyd, saying the agency would not tolerate dishonesty or corruption that undermines legitimate business activity.
The case was prosecuted by the US Attorney’s Office for the Eastern District of New York and the Fraud Section of the DOJ’s Criminal Division.
Possible further investigations
Berko’s conviction has renewed attention on the circumstances surrounding the power plant agreement and the alleged involvement of Ghanaian officials.
With the Attorney-General now engaging US authorities, the latest development could lead to further investigations and possible prosecutions of other individuals found to have participated in the alleged bribery scheme.
However, the Attorney-General’s Office has not publicly identified the other persons being pursued or indicated whether charges have been filed against them.
