General News of Wednesday, 15 January 2020Source: 3news.comTiming of prosecution of defunct UT, Beige bank bosses questionable - LawyerOwner of defunct UT bank, Prince Kofi AmoabengA member of the legal team of the National Democratic Congress (NDC), Godwin Edudzi Tamakloe, says the timing of the prosecution of the owners of defunct banks UT Bank and Beige Bank is questionable. “I find this prosecution following the president’s comments at the New Year School a little bit more curious.”On Tuesday, Prince Kofi Amoabeng, owner of defunct UT Bank, and Mike Nyinaku of the collapsed Beige Bank were picked up by the police and arraigned on charges of stealing and money-laundering. While Prince Kofi Amoabeng was charged with stealing about GH¢51 million and laundering over $8 million, Mike Nyinaku was accused of misappropriating GH¢340.94 million. “Prosecution is now being weaponised for the purpose of political expediency,” he told host Winston Amoah. But a member of the New Patriotic Party (NPP), Kofi Ameyaw, said there is no political undertone to the action taken against the two.

Source: GhanaWeb January 15, 2020 12:22 UTC