Founder of the now-defunct UT Bank, Prince Kofi Amoabeng, has been arrested, Tuesday, over the collapse of the bank.
Mr. Amoabeng is facing charges of stealing and money laundering.
Citi News‘ court correspondent, Fred Tettey Djabanor said 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.
Mr Amoabeng at the Accra Circuit Court IV, Tuesday.
UT Bank, which was trading on the Ghana Stock Exchange, had its listing status also suspended.
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.
Mr Amoabeng has since the revocation of the licence of UT Bank been a subject of investigations for what the Bank of Ghana has termed as “willful deceit”.
JoyNews correspondent, Kwesi Parker-Wilson reported that, Mr. Amoabeng has been charged with stealing and money laundering.
The founder of the defunct UT Bank together with the founder of the defunct BEIGE bank, Michael Nyinaku have been accused of allegedly stealing more than GH₵390million and $8.6million belonging to customers of the bank.
Amoabeng has been accused of stealing more than Ghc51.3 million and $8.6million, while Nyinaku has been accused of stealing more than Ghc340million.
The two pleaded not guilty to the charges leveled against them when they appeared before the Accra Circuit Tuesday, Graphiconline reported.
Source: Joy News
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