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HomeNewsFormer UT Bank Boss Amoabeng’s case adjourned to February 5

Former UT Bank Boss Amoabeng’s case adjourned to February 5

The trial of the former boss of the UT Bank widely known as Prince Kofi Amoabeng, former Chief Executive Officer of UT Bank, who is being held on the charges of stealing and money laundering, has been adjourned to February 5.

The postponement came after the court has engaged the prosecution to file all documents they intend to rely on for the trial on Amoabeng or his lawyer.

Mr Amoabeng who made his first appearance on January 14, this year, has however denied the charges with the amount involved being up to the tune of GH¢51,334,338.00 and $8.6 million.

The court presided over by Mr. Emmanuel M. Essandoh admitted him to bail in the sum of GH¢110 million with two sureties.

The sureties, according the court, should be public servants earning not less than GH¢2,000.00.

It further ordered the former UT bank boss to deposit his travelling documents to the Court’s Registry and to report to the Police every Monday and Friday.

Prosecuting, Assistant Superintendent of Police (ASP) Emmanuel Nyamekye had earlier said that a Special Investigation Team (SIT) received a report from the PriceWaterhouse and Coopers through the Bank of Ghana into suspicious transactions relating to UT bank.

According to prosecution, UT Bank engaged in some off-balance sheet transactions log, issuing investment certificates to investors in the name of the bank.

The Prosecution said the amounts totalling GH¢51,334,387 and $8,612,829 were later transferred to UT Holdings.

The prosecution said investigations also discovered that 15 transactions were identified in respect of 12 institutions whose funds sum up to GH¢51,334, 387.00 and $8,612,829.33 with UT Holdings.


Ebo Safo
Ebo Safo
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