Former CEO of UT Bank Kofi Amoabeng arrested for collapse of his bank; faces stealing and money laundering charges

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Prince Kofi Amoabeng

Former boss of UT Bank, Kofi Amoabeng has been arrested by the Ghana Police Service and charged over the collapse of the aforementioned bank which belongs to him.

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Capt. (Rtd) Kofi Amoabeng was arraigned before an Accra Circuit Court today to answer for circumstances surrounding the collapse of his bank. According to reports, he’s being charged with stealing and money laundering.

Kofi Amoabeng has been accused of allegedly stealing in excess of GHc51.3 Million and $8.6million belonging to customers of the collapsed bank.

Also, founder defunt BEIGE Capital, Mr. Michael Nyinaku is also facing similar charges.

Both men have reportedly pleaded not guilty to the charges leveled against them.

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More to follow in the coming days.

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