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CEO defunct UT Bank Kofi Amoabeng arrested for stealing and money laundering

The Chief Executive of defunct UT Bank, Prince Kofi Amoabeng has been picked by Police.

The business man has subsequently been arraigned before court with charges on stealing and money laundering.

At an Accra High Court the state prosecutor accused Mr. Kofi Amoabeng of misappropriating and laundering funds of GH¢51 million and $8, 612,839.33 respectively belonging to customers of the Bank.

Read more: CEO of collapsed UT Bank Kofi Amoabeng a non payer of tithes lands in Israel for God’s favor

Lawyers of the defunct UT Bank CEO managed to secure him a bail GH¢110 million with two sureties who earn not less than GH¢2,000.

The court presided over by Justice Essandor also charged CEO of Binge Capital Mike Nyinaku of misappropriation of GH¢340.94 million belonging to customers.

Mike Nyinaku wasn’t granted bail as he’s been remanded and will spend one week in police custody.

Read more: Photos: Bank Of Ghana introduces GH¢100, GH¢200 notes and GH¢2 coin

Written by Ghsplash Staff

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