A U.S. federal jury has convicted former Goldman Sachs banker Asante Kwako Berko for his role in a multimillion-dollar bribery scheme tied to a power plant project in Ghana.
Berko, a U.S.-Ghanaian citizen, was found guilty of conspiring to pay more than $1 million in bribes to Ghanaian officials to secure approvals for a Turkish energy firm, Aksa Enerji.
Prosecutors said that in 2014, while serving as an Executive Director in Goldman Sachs’ Investment Banking Division, Berko helped facilitate a deal between the company and the Ghanaian government. As part of the scheme, he and his associates allegedly used intermediaries to influence key decision-makers.
In 2015, Berko and his collaborators discussed paying $1 million to Ghana’s Minister of Power to fast-track approvals for the project. Additional inducements included an all-expenses-paid trip to Turkey for five Ghanaian officials, each receiving $5,000.
After Ghana’s parliament approved the deal in July 2015, Berko and his co-conspirators reportedly exchanged emails detailing the bribe payments. Authorities said the funds were concealed through shell companies, fake invoices, and multiple bank accounts in the U.S. and abroad.
Berko denied wrongdoing when questioned by Goldman Sachs’ compliance team, prompting the bank to withdraw from the deal over corruption concerns.
He was later extradited from the United Kingdom to the United States in July 2024. Convicted under the Foreign Corrupt Practices Act, Berko faces up to 30 years in prison. His sentencing is scheduled for November 10.
Berko, 52, previously served as Managing Director of Ghana’s Tema Oil Refinery.
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