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2 clusters · 14 sources · 3 days · First seen · Last updated

Ghanaian power plant bribery conviction

Overview

Asante Kwaku Berko, a former Goldman Sachs executive and Managing Director of the Tema Oil Refinery, was convicted by a federal jury in Brooklyn for his role in a bribery and money laundering scheme. The case centered on more than $1 million in bribes allegedly paid to Ghanaian officials to secure an Emergency Power Agreement for the Turkish energy firm Aksa Enerji during Ghana’s national energy crisis.

Prosecutors established that Berko and co-conspirators used shell companies, sham invoices, and nominee accounts to bypass compliance teams. The scheme involved the use of the coded phrase ‘holy rain’ to refer to bribe payments. Due to these corruption concerns, Goldman Sachs ultimately withdrew from the financing deal. Berko faces a potential maximum sentence of 30 years in prison.

In response to the proceedings, former Ghanaian Minister of Power Dr. Kwabena Donkor issued a formal denial through his legal team. Dr. Donkor stated he has never met Berko, never discussed personal benefits with him, and never authorized anyone to solicit money on his behalf. His lawyer, K. T. Hammond, emphasized that Berko’s alleged actions do not establish criminal liability for Dr. Donkor.

Following the verdict, Ghanaian authorities, including the Attorney General’s office and the Office of the Special Prosecutor, have begun collaborating with the U.S. Department of Justice. Additionally, the Economic and Organised Crime Office (EOCO) has launched investigations to trace funds and assets linked to the case, while the New Patriotic Party (NPP) has called for immediate legal action against implicated individuals in Ghana.

Entities

Goldman Sachs · Asante Kwaku Berko · Kwabena Donkor · Aksa Enerji · Tema Oil Refinery

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

Timeline

  1. 1 day ago

    [INTERNATIONAL] 10 sources
    Asante Berko convicted in U.S. bribery scheme involving Ghana power contract

    Former Goldman Sachs executive Asante Kwaku Berko has been convicted in a U.S. court for a bribery scheme involving a Ghanaian power plant contract, prompting investigations in Ghana.

  2. 4 days ago

    [INTERNATIONAL] 10 sources
    Asante Kwaku Berko convicted in U.S. for Ghana power plant bribery scheme

    Former Goldman Sachs executive Asante Kwaku Berko has been convicted in a U.S. federal court for a $1 million bribery scheme involving a power plant deal in Ghana.

Sources

adomonline.com · asaaseradio.com · blog.volkovlaw.com · dailyguidenetwork.com · ghanaguardian.com · ghanamma.com · ghananewspage.com · lazybudgetchef.com · myjoyonline.com · mynewsgh.com · thechronicle.com.gh · theghanareport.com · thevaultznews.com · thevoicenewsmagazine.com

This summary has been updated 2 times: see revision history