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The former CEO of UT Bank and Chairman of UT Group of
Companies, Mr Prince Kofi Amoabeng, has been granted a GHS110-million bail with
two sureties by an Accra High Court.
Mr Amoabeng was arrested on Tuesday, 14 January
2020 at his office and immediately arraigned.
His arrest is believed to be in connection with
the collapse of UT Bank on 7 August 2017 after the Bank of Ghana declared it
insolvent.
He, together with many others, are being
prosecuted for the financial crisis which almost grounded the banking sector.
Also, Mr William Ato Essien, the founder and
former CEO of another defunct bank, Capital Bank, as well as his former MD,
Rev. Fitzgerald Odonkor, and two other persons; Dr Tettey Nettey, the Managing
Director of MC Management Services, a company said to be owned by Mr Essien,
and Kate Quartey-Papafio, a businesswoman and Managing Director of Reroy Cables
Company Limited, are also being prosecuted.
They have been charged by the state with 26
offences for their role in the collapse of the bank in 2017.
The charges include conspiracy to steal. Mr
Essien and Tettey Nettey allegedly acted together between October and November
2015 in Accra to steal GHS100 million belonging to Capital Bank.
Judgement is expected to be delivered by the
High Court in respect of the Capital Bank case in February 2020.
