Ghana: SEC charges for alleged bribery at Aksa Enerji power plant

Issue 413 - 17 Apr 2020 | 3 minute read

The United States Securities and Exchange Commission (SEC) on 13 April charged the managing director of the Tema Oil Refinery (TOR) with orchestrating a bribery scheme to help a client win a power plant contract in Ghana. The SEC alleges that US-Ghanaian citizen Asante Berko – a former Goldman Sachs employee who was appointed TOR managing director in January 2020 – violated the Foreign Corrupt Practices Act by arranging for his firm’s client, a Turkish energy company, to funnel at least $2.5m to a Ghana- based intermediary to bribe government officials in order to win an electrical power plant project.

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