Kofi Amoabeng confesses to fearing going to jail over issues with collapsed UT Bank

Kofi Amoabeng confesses to fearing going to jail over issues with collapsed UT Bank

- Kofi Amoabeng has said he sometimes entertain the thought of being given a jail term

- He says he fears this might be his case following the issues leading to the collapse of his UT Bank

- The bank was declared insolvent after its liabilities exceeded it assets

- The EOCO has also seized a mansion belonging to Amoabeng

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Prince Kofi Amoabeng, the CEO of the defunct UT Bank, has confessed that sometimes, the thought of being given a jail term runs in his mind.

He indicated that following the issues of the collapse of the bank he once presided over, he feels he would be handed a jail term.

Amoabeng reportedly made this revelation in an interview according to a report sighted by YEN.com.gh on Mynewgh.com.

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Kofi Amoabeng confesses to fearing going to jail over issues with collapsed UT Bank

A collage of the former UT Bank boss, Kofi Amoabeng. Photo credit: @princekofiamoabeng
Source: UGC

He was asked by the interviewer if he thinks he would be asked to go to jail after investigations are completed, Kofi simply responded: “Yeah yeah yeah.”

He admitted that a lot of mistakes were made by the bank because those handling affairs are humans and are fallible.

The UT Bank was declared bankrupt in 2017 by the central bank after it was established that its liabilities had exceeded its assets.

It was said to be owing about GHC11 million cedis in debt coming from unpaid loans. The Capital Bank owed by Pastor Mensah Otabil was also dissolved in the same manner following its debt as well.

UT Bank was said to have given out huge loans to Ibrahim Mahama, a young brother of former president Mahama, who is also the CEO of Engineers and Planners.

Touching on the issue, Amoabeng said he has never regretted giving out the loan to Mahama to start his business.

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To him, he did the right thing by giving out the loan, and that it was unfortunate things turned out this way.

Meanwhile, one of Amoabeng’s plush mansions has been taken over by the Economic and Organised Crime Office (EOCO).

In an earlier report by YEN.com.gh, the warning notice served the public after the mansion was seized, as well as photos were published.

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Source: Yen

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