The state has dropped all the charges it filed against Chief Executive Officer of defunct UT Bank Prince Kofi Amoateng,MyNewsGh.com has confirmed.
This is after the state earlier file a case of money laundry and stealing against him at an Accra Circuit Court. The circuit court later granted him bail. The bail was granted by Justice Essandor in the tune of ¢110 million with two sureties who earn not less than ¢2,000
The state has however discontinued the case.
The former CEO of the defunct UT Bank however is not yet free. ASP Emmanuel Nyamekye who is Police Prosecutor in the case stated that the State intends to file a fresh case against Mr Amoabeng at the High Court in Accra
The Judge Emmanuel Essandoh released the accused who is free
to go home for now.
Real reasons for Kofi
The Special Investigation Team (SIT) of the police received
a report from PricewaterhouseCoopers Gh. Ltd through the Governor of Bank of
Ghana into suspicious transactions relating to UT Bank.
– According to the report, the UT Bank engaged in some
off-balance-sheet transactions log – issuing investment certificates to
investors in the name of the bank. However, these amounts totalling
¢51,334.387.08 and $8,612,829.33 were later transferred to UT Holdings.
– The report further disclosed that UT Bank issued an
investment certificate in the name of the Bank although the amounts were never
credited to the customer’s account but transferred to UT Holdings.
– The report added that Prince Kofi Amoabeng, then Chief
Executive Officer of UT Bank, signed most of the customers’ investment
certificates and subsequently transferred them to UT Holdings.
– Investigations further revealed that the customers’ monies
were with the UT Holdings. Most of the investment with UT Bank was absorbed by
Ghana Commercial Bank Limited as part of the takeover of UT Bank in 2017.
– However, the report indicates that the rate of interest
issued to each investor varied and was subject to negotiations. It was also
revealed that 15 transactions were identified in respect of 12 institutions
whose funds sum up to ¢51,334,387.08 and $8,612,829.33 all placed with UT
Source: MyNewsGh.com/Stephen Zoure/2020