The Securities and Exchange Commission (SEC) filed a lawsuit against a former financial services company executive who allegedly arranged a bribery scheme to help a client win a contract in the Republic of Ghana.
In the lawsuit, the SEC named Asante Berko as the defendant. Berko is a United States citizen and a former executive of a UK-based financial services subsidiary of a U.S. bank holding company.
SEC accused the defendant of violating the FCPA Act
According to the Commission, Berko violated the Foreign Corrupt Practices Act (FCPA), which prohibits publicly-traded companies and its executives from engaging in a bribery scheme to secure business deals in foreign countries.
The SEC alleged that Berko arranged to bribe different government officials in the Republic of Ghana to award a contract to a Turkish Energy Company to build and operate a power plant in the country and sell electricity to the Ghanian government.
Berko allegedly arranged for the Turkish energy company to funnel around $3 million to $4.5 million to a Ghana-based company that will serve as an intermediary to bribe Ghanian government officials.
