Keypoints:
- Berko convicted on all three federal counts
- Berko conspired to pay more than $1m
- He faces up to 30 years in prison
THE former Goldman Sachs investment banker Asante Kwaku Berko has been convicted by a US federal jury of foreign bribery and money laundering offences linked to the development of a power plant in Ghana.
The verdict was returned in Brooklyn on August 6, 2026, after a nine-day trial before US District Judge Diane Gujarati in the Eastern District of New York. Berko was found guilty on all counts and faces up to 30 years in prison.
The conviction marks the culmination of a years-long US criminal investigation into payments made to Ghanaian officials as Berko worked on a proposed energy transaction involving Turkish power company Aksa Enerji and the Ghanaian government.
Jury convicts Berko on all counts
According to the US Attorney’s Office for the Eastern District of New York, Berko was convicted of conspiracy to violate the Foreign Corrupt Practices Act, violating the FCPA and conspiracy to commit money laundering.
Prosecutors proved at trial that Berko conspired to pay more than $1m in bribes to multiple Ghanaian government officials in connection with the development and financing of the power plant, which was expected to generate hundreds of millions of dollars in profits.
Berko, 52, was an executive director in Goldman Sachs’ Investment Banking Division and was responsible from December 2014 for managing a proposed deal involving Ghana and Aksa, then a Goldman client.
Payments targeted Ghanaian officials
Evidence presented at trial showed that Berko and his co-conspirators paid and conspired to pay officials at several levels of government as they sought approvals for the project.
In April 2015, the conspirators discussed paying $1m to Ghana’s then power minister and $250,000 to a senior adviser, according to the Justice Department.
Prosecutors also proved that bribes were paid to five Ghanaian officials during an all-expenses-paid trip to Turkey to inspect equipment for the project.
After parliament ratified the power agreement in July 2015, Berko and his co-conspirators exchanged detailed emails about further payments.
In August 2015, the conspirators discussed $250,000 in bribe payments to various individuals, including $46,000 Berko had personally paid to members of Ghana’s parliament.
Goldman withdrew over corruption concerns
The evidence also showed that Berko concealed the scheme from Goldman Sachs.
Prosecutors said he lied to the bank’s compliance team, used his personal email account for communications about the deal and directed co-conspirators to do the same.
Shell companies, sham invoices, nominee account holders and cash withdrawals were also used to conceal and launder payments through US and foreign bank accounts.
Goldman Sachs ultimately withdrew from the proposed transaction because of corruption concerns.
The SEC had earlier said the bank’s compliance personnel took appropriate steps to prevent Goldman from participating in the transaction and that the firm was not charged.
SEC case preceded criminal conviction
The criminal conviction follows an earlier SEC civil enforcement action against Berko.
In 2020, the SEC alleged that he arranged for at least $2.5m to be funnelled through a Ghana-based intermediary for illicit payments connected with the power project.
A final judgment entered in 2021 permanently restrained Berko from violating the FCPA’s anti-bribery provisions and ordered him to disgorge $275,000 in ill-gotten gains plus $54,163.92 in prejudgment interest.
The latest criminal case went further, requiring prosecutors to prove Berko’s guilt beyond reasonable doubt before a federal jury.
Judge Gujarati ordered Berko remanded pending sentencing. The Justice Department says he faces a maximum combined penalty of 30 years in prison.
