General News of Tuesday, 14 January 2020Source: citinewsroom.comDefunct UT Bank’s Kofi Amoabeng charged with stealing, money launderingPrince Kofi Amoabeng, founder of now defunct UT BankThe founder of UT Group, Prince Kofi Amoabeng has been put before an Accra circuit court for his role in the collapse of his bank in 2017. Mr. Amoabeng is facing charges of stealing and money laundering. Citi News‘ court correspondent, Fred Tettey Djabanor said Kofi Amoabeng was put before court together with the CEO of defunct Beige Bank, Mike Nyinaku. Provisional figures released by the central bank showed the total liability of UT Bank stood at GH¢850 million while its total asset was pegged at GH¢112 million. They [government] decided that the best thing is to close down UT Bank which I find really difficult to take but from where they are sitting, they decide that was the best thing for the country.

Source: GhanaWeb January 14, 2020 13:41 UTC