A former Managing Director of the Tema Oil Refinery (TOR) has been convicted in a US federal court for allegedly using over $1 million in bribes to secure a lucrative power project for his Turkish client. Asante Kwaku Berko, a dual citizen of Ghana and the United States, faces up to 30 years in prison when sentenced.
Bribery Scheme Exposed
According to the United States Department of Justice, Berko, a former Executive Director in the Investment Banking Division of Goldman Sachs, was convicted by a federal jury in Brooklyn on all counts relating to a corruption scheme involving the development and financing of a power plant in Ghana. The nine-day trial established that Berko and his co-conspirators sought to influence officials at different levels of government to ensure that Aksa, a Turkish energy company and Goldman Sachs client, won the contract to construct and operate the power plant.
Bribes Paid to Ghanaian Officials
As part of efforts to secure the necessary government approvals, Berko and his associates discussed in April 2015 the alleged payment of $1 million to the Ghanaian Minister of Power responsible for key approvals for the project at the time. A further $250,000 was allegedly earmarked for the Minister's senior adviser. After Parliament ratified the Aksa-Ghana power agreement in July 2015, Berko and his co-conspirators exchanged emails detailing further payments.
Conspirators Used Coded Language
The bribery scheme extended beyond the Executive arm of government. The conspirators also used coded language to discuss the payments. In one exchange, a recipient was said to be waiting for the "holy rain", a reference to the bribe, and "would appreciate it sooner rather than later".
Officials Flown to Turkey
The corruption scheme also allegedly involved an all-expenses-paid trip to Turkey for five Ghanaian officials to inspect equipment connected to the proposed power plant. The trip formed part of the broader efforts by Berko and his associates to cultivate support for the project among officials who could influence its approval and implementation.
Scheme Concealed
Prosecutors said Berko took deliberate steps to conceal the payments from Goldman Sachs and its compliance team, which was responsible for reviewing the transaction. He allegedly lied to the bank's compliance personnel about aspects of the deal and used his personal email account, rather than his Goldman Sachs business account, to communicate with co-conspirators about the project and the bribes.
International Cooperation
US Attorney for the Eastern District of New York, Joseph Nocella Jr., said the conviction demonstrated the determination of his office to combat international corruption. "Today's verdict marks another significant victory in this Office's longstanding commitment to rooting out corruption," stated United States Attorney Nocella. The US authorities said the United Kingdom, including its National Centre Bureau for INTERPOL, the US Embassy in London, the Department of Justice's Office of International Affairs, and the US Marshals Service, provided substantial assistance in securing Berko's arrest and extradition.
What Happens Next
Asante Kwaku Berko will be sentenced in due course. The case has significant implications for international business and the fight against corruption. It highlights the need for transparency and accountability in government contracts and the importance of international cooperation in combating corruption.
Source: Joy Online
