Asante Berko, MD TOR Resigns After Bribery Scandal

Asante Berko Resigns


Asante Berko, Managing Director of the Tema Oil Refinery (TOR), has left his job.

A statement signed by the Director of Communications at the Presidency, Eugene Arhin indicated that Mr Asante Berko’s resignation letter has been received and accepted by Nana Akufo-Addo.

The statement adds that President Akufo-Addo wishes him well in his future endeavours.

The resignation of the Tema Oil Refinery (TOR) MD comes shortly after a recent bribery scandal he allegedly was involved in.

On Monday, April 13, the US Securities and Exchange Commission in a statement said Asante Berko, who was a former employee at Goldman Sachs, arranged bribes for a Turkish energy company to funnel the money to a Ghana-based intermediary, which was then paid the government officials.

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Asante Berko is alleged to have arranged for the energy company to funnel between US$3 million to US$4.5 million to the intermediary company where he paid more than US$200,000 in bribes to various other government officials for approving a Power Plant Project.

Adding, he personally also paid more than US$60,000 to members of Ghana’s parliament to gain further approval for the project.

US SEC says Asante Berko took deliberate measures to prevent his employer from detecting the bribery scheme and is said to be in violation of the Foreign Corrupt Practices Act (FCPA).