Ex-Goldman Sachs Banker Asante Berko Goes on Trial in US Over $1m Ghana Bribery Charges
- Asante Berko, a former Goldman Sachs banker and ex-Tema Oil Refinery chief, appeared before a federal jury in Brooklyn over alleged bribes to Ghanaian officials
- Prosecutors allege Berko funnelled over $1 million through US institutions to secure state approvals for a Turkish energy plant project a decade ago
- Berko, who pleaded not guilty, faces up to 20 years in prison if convicted on the main charge under the Foreign Corrupt Practices Act
PAY ATTENTION: Mark YEN.com.gh as a preferred source, and our content will appear higher in your Google feed!
Asante Berko, a 52-year-old former Goldman Sachs banker, has stood trial before a federal jury in Brooklyn, New York, on charges that he orchestrated a scheme to funnel more than $1 million in bribes to Ghanaian government officials.
According to a report sighted on GhanaWeb, Berko faces counts including violations of the Foreign Corrupt Practices Act, money laundering, and conspiracy. He has pleaded not guilty to all charges.
Source: UGC
The allegations against Berko
Prosecutor Katherine Raut told the court that roughly a decade ago, the former TOR MD arranged illicit payments intended to secure state approvals and financing for an energy plant project in Ghana.
The project involved a Turkish company in which Goldman Sachs held a 16 per cent stake. Raut alleged that Berko deliberately circumvented the bank's internal compliance systems, routing the funds through American financial institutions to conceal their purpose.
Goldman Sachs was not accused of any wrongdoing and co-operated fully with authorities. The bank ultimately withdrew from the project after internal reviews raised red flags.
Among the evidence presented, the court heard about a 2015 message sent to Berko stating that a Ghanaian official was "waiting for the 'holy rain'", a communication prosecutors argued was indicative of the broader corruption scheme.
Berko's defence challenges the evidence
Berko's defence lawyer, Robert Boone, pushed back strongly against the prosecution's case, arguing that it rested on circumstantial grounds rather than direct proof. Boone challenged the jury with a pointed question:
"Is anyone going to testify to having seen a bribe or being paid a bribe? The answer is no."
The defence contended that without eyewitness testimony or direct physical evidence of payments changing hands, the prosecution could not meet the burden of proof required for a conviction.
If found guilty on the principal charge, Berko faces a maximum sentence of 20 years in prison.
Berko's short stint at TOR
Beyond his career at Goldman Sachs, Berko served as chief executive of the Tema Oil Refinery for approximately four months, between January and April 2020.
His tenure at the refinery was short-lived; he resigned after the US Securities and Exchange Commission filed charges against him in connection with the same underlying bribery allegations that now form the basis of his criminal trial in Brooklyn.
When Asante Berko was extradited to US
Earlier, YEN.com.gh reported that Asante Berko was extradited to the US in July 2024 following corruption charges.
Berko's extradition to the US followed cooperation between the UK, Interpol, and the US Marshals Service.
In April 2022, the US Security and Exchange Commission charged Berko with facilitating at least $4.5 million in bribes.
Don't miss out! Get your daily dose of sports news straight to your phone. Join YEN's Sports News channel on WhatsApp now!
Source: YEN.com.gh
