US BANKER CHARGED WITH GHANA POWER PLANT BRIBES

The US Securities and Exchange Commission (SEC) has charged a former executive of a foreign-based subsidiary of a U.S. bank holding company with paying bribes to gain power plant contracts in Ghana in breach of the Foreign Corrupt Practices Act (FCPA).  The SEC alleges Asante Berko arranged for his firm’s client, a Turkish energy company, to funnel at least USD2.5 million to a Ghana-based intermediary to pay illicit bribes to Ghanaian government officials in order to gain their approval of an electrical power plant project.