Former TOR MD extradited from UK to US to face bribery, money laundering charges

A former Managing Director of Tema Oil Refinery, Asante Kwaku Berko, has been extradited from the UK to the US to face charges of allegedly bribing Ghanaian government officials to secure a power plant deal and laundering the payments through the U.S. financial system.

Berko, who is also a former executive director and banker at Goldman Sachs Group, was arraigned before a federal court in Brooklyn, USA on July 16, 2024 for violations of the Foreign Corrupt Practices Act (FCPA).

According to the indictment, Asante Berko, who is a dual citizen of the United States and Ghana, allegedly conspired with others between 2014 and 2017 to bribe Ghanaian government officials to support a bid from a Turkish energy company to build and operate a power plant in Ghana.

The indictment also states that Asante Berko allegedly facilitated bribe payments exceeding hundreds of thousands of dollars. This included instances where Ghanaian officials received $5,000 each in bribes, in addition to bribes made to individuals at the Energy Ministry during that period.

During the arraignment in Brooklyn, U.S. Attorney Breon Peace said, "The defendant allegedly bribed Ghanaian government officials to secure a lucrative development contract, relying on the U.S. banking system to execute his scheme.

"We are committed to rooting out such bribery that creates unfair advantages and exploits the U.S. financial system," Peace added.

FBI Assistant Director in Charge Curtis narrated, “For over two years, Asante Berko, a dual citizen of the U.S. and Ghana, allegedly bribed Ghanaian government officials to monopolize a promising business deal and used United States bank accounts to transfer such kickbacks.

"Financially influencing decision-makers, including those overseas, jeopardizes the integrity of affected countries while creating an unfair advantage for those promoting the bribery scheme. The FBI will not permit citizens, regardless of their nationality, to obtain corrupt contracts by exploiting foreign countries and utilizing our nation to facilitate the movement of unlawful payments,” parts of the release published on the US Department of Justice website read.

If convicted, Asante Berko faces a maximum penalty of 20 years in prison for conspiring to commit money laundering and five years in prison for each count of violating the FCPA and conspiring to violate the FCPA.

See full statement below:

PRESS RELEASE

Former Banker Charged with Bribing Ghanaian Officials Extradited to the United States from the United Kingdom

Defendant, a Joint U.S.-Ghanaian Citizen, Charged with FCPA Violations and Money Laundering Related to the Development of a Power Plant in Ghana

Asante Kwaku Berko, a dual citizen of the United States and Ghana, will be arraigned in federal court in Brooklyn today before Magistrate Judge Lois Bloom on an indictment charging him with violations of the Foreign Corrupt Practices Act (FCPA) and money laundering for bribing Ghanaian government officials to secure a power plant deal and laundering the payments through the U.S. financial system. Yesterday, Berko was extradited to the Eastern District of New York from the United Kingdom where he was arrested on November 3, 2022 pursuant to an Interpol Diffusion Notice.

Breon Peace, United States Attorney for the Eastern District of New York, Nicole M. Argentieri, Principal Deputy Assistant Attorney General, Head of the Criminal Division and Christie M. Curtis, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI) announced the extradition.

“As alleged, the defendant bribed Ghanaian government officials to secure a lucrative development contract relying on the U.S. banking system to execute his scheme,” stated United States Attorney Peace.

“My Office is committed to rooting out bribery and other criminal practices that create inequities in the playing field for business both here and abroad and exploit the U.S. banking system.”

Mr. Peace expressed his appreciation to the Government of the United Kingdom, the U.K. National Centre Bureau for INTERPOL, the Embassy of the United States in London, the Department’s Office of International Affairs and the U.S. Marshals Service for providing substantial assistance in securing the arrest and extradition of the defendant.

“For over two years, Asante Berko, a dual citizen of the U.S. and Ghana, allegedly bribed Ghanian government officials to monopolize a promising business deal and used United States bank accounts to transfer such kickbacks. Financially influencing decision-makers, including those overseas, jeopardizes the integrity of affected countries while creating an unfair advantage to those promoting the bribery scheme. The FBI will not permit citizens, regardless of their nationality, to obtain corrupt contracts by exploiting foreign countries and utilizing our nation to facilitate the movement of unlawful payments,” stated FBI Assistant Director in Charge Curtis.

As set forth in the indictment, between approximately December 2014 and March 2017, Berko conspired with others to bribe Ghanaian government officials in connection with the development and financing of a multi-million-dollar power plant in Ghana.

Berko, an Executive Director in the Investment Banking Division of a subsidiary of a U.S. bank, was responsible for securing and managing a deal between its client, a Turkish energy company, and the Republic of Ghana, for the construction and financing of a power plant in Ghana.

During the scheme, Berko and his co-conspirators paid hundreds of thousands of dollars in bribes—including to Ghanaian officials—to ensure the Turkish energy company won its bid to build and operate the power plant.

For example, in April 2015, bribes were paid to five Ghanaian officials during an all-expenses-paid trip to Turkey to view equipment for the power plant, during which the officials each received $5,000.

After the power plant deal was ratified by the Ghanaian parliament in July 2015, Berko and his co-conspirators exchanged detailed emails regarding their bribe payments. In August 2015, they discussed $250,000 in bribe payments paid to various individuals, including $20,000 to the “MoP Girls”—who were with the Ghanaian Ministry of Power and who a co-conspirator described as “vital to our communication and information acquisition.”

The emails further detailed tens of thousands of dollars in bribes that Berko had personally paid and for which he was still owed. Payments in furtherance of the bribery scheme were laundered through U.S. and foreign bank accounts, including several in Berko’s name.

The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty. If convicted, Berko faces a maximum penalty of 20 years in prison for conspiring to commit money laundering and five years in prison for each count of violating the FCPA and conspiring to violate the FCPA.

The investigation was conducted by the FBI’s International Corruption Unit. The government’s case is being handled by the Office’s Business and Securities Fraud Section. Assistant United States Attorneys Alixandra Smith, Jessica Weigel and Tara McGrath are in charge of the prosecution, along with Trial Attorney Elina Rubin-Smith of the Department of Justice’s Criminal Division, Fraud Section.

The Justice Department’s Office of International Affairs worked with the Government of the United Kingdom, U.K. National Central Bureau of INTERPOL, and U.S. Marshals Service to secure the arrest and extradition of Berko.

NOQ