In 2020, Asante Berko settled the case with the SEC by agreeing to pay $399,000. Shortly after the settlement, a lawsuit was filed in Brooklyn, New York. In November of 2022, Berko arrived in London at Heathrow Airport and was immediately arrested; he was accused of conspiring with two Ghanaian officials and four other people to help Goldman Sachs, himself, and a Turkish energy company. The plan started to take off when Goldman Sachs got paid. Join Michael Volkov as he investigates the recidivist case of Asante See more +
1. Berko organized a bribery scheme between 2014 and 2017 to obtain a power contract from the Ghanaian government for a Turkish energy company. They were trying to get a power purchase agreement (PPA) or emergency power agreement (EPA) with Ghana, which needed to be approved by other Ghanaian officials and institutions, including the Ghanaian executive and the Executive Cabinet and Parliament.
2. In seeking payment of bribes paid by Berko and his rebels, he falsified invoices for consulting services allegedly provided by a Ghanaian consulting firm, which the Turkish electricity company then paid. The money was channeled through the banks in the US.
3. Michael says that FCPA Violators often ignore the law by pretending that their obvious crimes will go undetected and uninvestigated, Michael says.
4. Goldman Sachs officials began questioning the Turkish energy company about the payment to the Ghana consulting company that was identified in their financial analysis. Despite the confirmation of Co-conspirator Number 3, Goldman Sachs conducted a thorough investigation of transactions and various email accounts and communications, including personal accounts used by Berko and others in the prosecution.
Listen to the Corruption, Crime & Compliance podcast to learn more about The Curious FCPA Story of Asante Berko. See a little –