Asante Berko, a former Goldman Sachs banker, has been accused by the U.S. Securities and Exchange Commission (SEC) of orchestrating a $4.5 million bribery scheme involving Ghanaian government officials. The SEC alleges that Berko facilitated these bribes to help a Turkish energy company secure a power-plant contract. The energy company reportedly paid Berko $2 million for his efforts in coordinating this scheme.
According to the SEC's lawsuit, filed in Brooklyn federal court, Berko not only arranged for the $4.5 million in bribes but also personally paid $66,000 to members of the Ghanaian parliament and other government officials. Berko was aware that the bank stood to earn $10 million in fees if the energy company won the contract and arranged its financing, and this deal would have "enhanced Berko’s performance and stature within" the bank. The SEC is seeking fines and the return of any compensation Berko earned through this alleged scheme.
Berko, who departed from Goldman Sachs in 2016, reportedly tried to conceal the scheme from the bank's compliance officers, who had raised questions about the dealings. The Turkish energy company's involvement was eventually terminated in 2016. However, neither the energy company nor Goldman Sachs has been named as a defendant in the SEC's lawsuit.
