The Accra High Court has on December 18 rejected an appeal submitted by Bernard Antwi Boasiako, popularly known as Chairman Wontumi, to revoke a freezing order imposed on the bank account of his company.
The Ashanti Regional Chairman of the New Patriotic Party (NPP) sought the court’s intervention to unfreeze the account of Paradise Insurance.
The application sought to overturn the mandate of the Financial Intelligence Centre (FIC) to suspend the company’s account amid continuing investigations into alleged financial misconduct associated with Wontumi and affiliated organizations.
The company’s account was frozen as a result of continuing investigations into suspected financial irregularities associated with Wontumi and connected firms.
Upon reviewing the case, the court denied the motion, upholding the account limitation, and subsequently delayed the proceedings indefinitely.
Following the hearing, Wontumi’s lawyer addressed the media, affirming the verdict and explained the parameters of the motion presented to the court.
“Today’s case pertains to one of the Chairman’s enterprises, Paradise Insurance, specifically regarding the freezing of the company’s accounts,” he said.
“We petitioned for the annulment of the freezing order, and the matter has been postponed.”
Upon request for clarification on the court’s ruling, counsel said that the application had been unsuccessful.
