The founder of the defunct bank UT Bank, Prince Kofi Amoabeng, has been arrested and charged over his role in the collapse of the bank.
He has since pleaded not guilty to stealing GHc51, 334, 3o6.08 and $8, 612, 829.20 respectively between 2009 and 2017.
He was arrested in his office in Accra and processed for court on Tuesday, January 14, 2020.
The founder of UT Group, Prince Kofi Amoabeng has been put before an Accra circuit court for his role in the collapse of his bank in 2017.
Mr. Amoabeng is facing charges of stealing and money laundering.
Kofi Amoabeng was put before court together with the CEO of defunct Beige Bank, Mike Nyinaku.
According to the prosecution, the two men who run different organizations allegedly misappropriated funds in excess of GH¢200 million belonging to their customers.
The prosecution said investigations were still ongoing into their separate cases to ascertain the full extent of their offences.
The Court, presided over by Justice Essandor, subsequently granted Mr. Amoabeng bail to the tune of GHS110 million cedis with two sureties who earn not less than GHS 2,000.
The Bank of Ghana on August 14, 2017, announced that it had revoked the license of UT Bank and ordered GCB Bank to take over its operation because it had severe capital impairment.
Provisional figures released by the central bank showed the total liability of UT Bank stood at GH¢850 million while its total asset was pegged at GH¢112 million.
Source: mybrytfmonline
