Defunct UT bank boss Kofi Amoabeng freed of all charges

Defunct UT bank boss Kofi Amoabeng freed of all charges

- Former Managing Director of defunct UT Bank, Prince Kofi Amoabeng who was facing charges of stealing and money laundering has been discharged of all charges

- The decision to discontinue the case means the trial at the circuit has been brought to an end and all accusations dropped

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An Accra Circuit Court has discharged the former Managing Director of defunct UT Bank, Prince Kofi Amoabeng who was facing charges of stealing and money laundering.

The decision to discontinue the case means the trial at the circuit has been brought to an end and all accusations dropped.

Police Prosecutor, ASP Emmanuel Nyamekye told the presiding Judge, Emmanuel Essandoh that the state would file a fresh case against Amoabeng at the High Court.

READ ALSO: I was fired in 2014 because Mahama wanted me out - Kwesi Appiah

Mr. Amoabeng was put before the court in January 2020 to face charges of stealing and money laundering in the collapse of UT Bank Ghana Limited.

He was however granted bail, by the court presided over by Justice Essandor, to the tune of GHC110 million 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 a severe capital impairment.

Managing Director of defunct Beige Bank, Mike Nyinaku, who is standing trial for a similar case at the same circuit court has been adjourned to March 5, 2020.

READ ALSO: 64.9% Ghanaians want new voters' register - UG survey reveals

In other news, former Ghana coach, James Kwesi Appiah has revealed that former president John Dramani Mahama was the reason why he was sacked in 2014 after Ghana’s shambolic performance at the FIFA World Cup in Brazil.

Appiah in his book titled, "Leaders Don’t Have To Yell" states that, then-President John Mahama asked former Ghana football boss, Kwesi Nyantakyi to sack him after the Black Stars returned from Brazil.

“To anyone who was objectively looking at the facts of the circumstances surrounding Brazil 2014, it was obvious that my termination was an attempt by the powers-that-be to shift blame away from themselves,” Appiah wrote.

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Source: Yen.com.gh

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