The Goldman Sachs Group, Inc. was a bank holding company incorporated in Delaware with its primary place of business in New York. Its common stock was registered with the SEC and traded on the NYSE. Goldman Sachs carried out its global operations through numerous consolidated and controlled subsidiaries.
Goldman Sachs International ("GSI") was a United Kingdom-based subsidiary of Goldman Sachs through which the bank provided broker dealer, investment banking and other financial services for its clients in Europe, Asia, and the Middle East and Africa. GSI's financial statements (including the related books, records, and accounts) were consolidated with the financial statements of Goldman Sachs.
Asante K. Berko was a dual United States and Ghanaian citizen who resided in Ghana. During the period from July 2014 through March 2017, Berko was an Executive Director in the Investment Banking Division at GSI’s with responsibility for was responsible for securing and managing a deal between Goldman Sachs' client, an unnamed Turkish energy company, and the Government of the Republic of Ghana to build a power plant in the country and to provide financing for the power plant.
According to the documents in this case, between December 2014 and March 2017, Berko conspired with others to make corrupt payments to government officials associated with the Ministry of Power in Ghana to obtain and retain business for Goldman Sachs and the Turkish energy company. Berko also conspired to launder money to promote the bribery scheme. In all, the conspiracy caused more than $700,000 in bribes to the Ghanaian officials. Berko expected the power plant deal would provide multiple business opportunities for Goldman Sachs, including a loan of approximately $190 million to Turkish energy company to build the power plant and a separate letter of credit for the Republic of Ghana of approximately $75 million in connection with the operation of the power plant. These business opportunities would have resulted in significant fees for Goldman Sachs of approximately $11.3 million.
On August 26, 2020, the DOJ filed a three count indictment under seal against Berko in the Eastern District of New York alleging conspiracies to violate the antibribery provisions of the FCPA and to commit money laundering as well as direct violations of the antibribery provisions of the FCPA. The DOJ unsealed the indictment on November 3, 2022.
On July 15, 2024, Berko was extradited from the U.K. to the U.S. to face charges, and he was arraigned and pled not guilty the next day.
On July 1, 2025, Berko filed a motion to dismiss the indictment on the grounds that the indictment "was improperly sealed and Mr. Berko’s arrest was unreasonably delayed, resulting in a circumvention of the statute of limitations and a violation of Mr. Berko’s right to a speedy trial."
This case is ongoing.
In a related proceeding, the SEC filed a two count complaint in the Eastern District of New York against Berko on April 13, 2020, alleging violations of the anti-bribery provisions of the FCPA. Berko entered into a consent agreement with the SEC on June 23, 2021, and the court entered final judgment on the same date. Under the terms of the agreement, Berko agreed to be enjoined from future violations of the FCPA and to pay disgorgement of $275,000 plus prejudgment interest of $54,163.92.
