Ex-UT Bank boss Kofi Amoabeng granted GhC110m bail after arrest

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Kofi Amoabeng

The former CEO of UT Bank, Prince Kofi Amoabeng, has been granted bail in the sum of GhC110 million after being arrested over alleged charges of stealing and money laundering.

The court presided over by Justice Emmanuel Essandor also ordered that he produces two sureties, of persons who earn not less than GHc2,000 per month.

He was also to deposit his passport to the registrar and report to the police every Monday and Friday.

He has pleaded not guilty to stealing GHc51, 334, 306.08 and $8, 612, 829.20 respectively between 2009 and 2017.

Mr Amoabeng, according to sources, was picked up in his office in Accra Tuesday and sent to the Circuit Court Four.

He, together with many other CEOs, are being prosecuted by the state in connection with the collapse of some nine local banks.

Already, the former CEO and founder of Capital Bank, Mr William Ato Essien, is being prosecuted for 26 charges including stealing of various sums in excess of GHS260 million.

Meanwhile, founder and former CEO of The Beige Bank, Mr Michael Nyinaku, has been remanded in police custody by the court for one week.

His bail application was thrown out by the court, according to Class FM.

Source: Daily Mail GH

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