A U.S.-Ghanaian citizen, Asante Kwako Berko, was convicted on Thursday for bribing Ghanaian officials in connection with the development and financing of a power plant in Ghana.
A federal jury, which reviewed court documents and evidence presented at trial, found Berko guilty of conspiring to pay more than $1 million in bribes to multiple individuals.
In December 2014, while working as an Executive Director in the Investment Banking Division at Goldman Sachs, Berko managed a deal between Aksa Enerji and the Ghanaian government.
He was discovered to have connived with others to pay intermediaries in the West African nation to ensure that the Turkish energy company won its bid to build and operate the power plant.
In April 2015, the convict and accomplices talked about paying $1 million to the Minister of Power, who was responsible for securing key approvals enabling the project to progress.
Inducements were also funneled to five Ghanaian officials—$5,000 each—during an all-expenses-paid trip to Turkey to view equipment for the power plant.
In July 2015, after the Ghanaian parliament ratified the power station deal, 52-year-old Berko and co-conspirators exchanged emails about their bribe payments.
Prosecutors described how the collaborators concealed and laundered the slush funds, using sham invoices, shell companies, nominee account holders, and cash withdrawals.
According to the DOJ, payments in furtherance of the bribery scheme were laundered through U.S. and foreign bank accounts, including several in Berko’s name.
He denied involvement in the plot when questioned by Goldman’s compliance team that vetted the deal. The bank eventually withdrew from the project due to corruption concerns.
Berko was convicted of violating the Foreign Corrupt Practices Act and faces a maximum penalty of 30 years in prison. A federal judge will determine the term of imprisonment.
A former Managing Director of Ghana’s Tema Oil Refinery, Berko was extradited to the U.S. from the United Kingdom in July 2024. His sentencing is set for November 10.
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