Former Goldman Sachs banker accused by US of bribery in Ghana
The US Securities and Exchange Commission has filed a
complaint against former Goldman Sachs banker, Ghanaian Asante Berko, on
accusations of bribery.
The complaint, filed in the state of New York against Asante
Berko, a former executive of a foreign-based US bank holding company, accuses
him of bribery.
However, the bank he worked for is not facing any charges.
The US Securities and Exchange Commission (SEC) filed the
charged on 13 April stating Berko had violated section 30A of the Securities
Exchange Act of 1934: the anti-bribery provision of the american Foreign
Corrupt Practices Act (FCPA); a law created in 1977.
During the time of the alleged offences, 2015 to 2016, Berko was executive director in Goldman
Sachs’ London office
A US citizen, Berko allegedly helped a client win a
government contract to build and operate an electric power plant in Ghana,
which is in direct violation of the FCPA as per the official complaint:
“Berko schemed to bribe various government officials in the
Republic of Ghana (“Ghana”) so that a client of the Subsidiary, a Turkish
Energy Company (the “Energy Company”), would win a contract (the “Power
Purchase Agreement”) to build and operate an electrical power plant in Ghana
and sell the power to the Ghanaian government (the “Power Plant Project” or
“Project”.
Berko had arranged for his firm’s client, a Turkish energy
company, to funnel at least $2.5m to an intermediary in Ghana, to bribe
government officials for approval of an electric power plant project.
The complaint also alleges that Berko had helped the
intermediary to pay more than $200,000 in bribes to various other government
officials, as well as paying more than $60,000 in bribes himself.
According to the complaint, Berko took measures to ensure
that his employer would not detect his bribery scheme, including misleading his
employer’s compliance personnel about the true role and purpose of the
intermediary company.
The SEC is seeking monetary penalties, among other punitive
measures.
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