Kofi Amoabeng arrested over UT bank collapse

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Founder of the now-defunct UT Bank, Prince Kofi Amoabeng, has been arrested, Tuesday, over the collapse of the bank.

The Bank of Ghana on Monday, August 14, 2017 revoked the licences of UT and Capital banks due to their insolvency, leading to a seamless takeover of the two banks by GCB Bank.

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.




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