State to press fresh charges against UT bank boss in High court after dropping Circuit court case

Collapsed UT Bank boss, Prince Kofi Amoabeng

State prosecutors say they will file a new case against collapsed UT Bank boss, Prince Kofi Amoabeng, at the High court over the role he played in the bank’s collapse.

This comes less than 24 hours after the state discontinued a similar case against Mr Amoabeng in the Circuit court.

The UT Bank founder and CEO was charged with stealing and money-laundering in January but these charges have now been dropped, UPSANEWSROOM.com reporter has said.

ASP Emmanuel Nyamekye explained the State discontinued the earlier case because it intends to file a new case against him at the High Court.

The Bank of Ghana revoked the license of UT Bank on August 14, 2017, and ordered GCB Bank to take over its operation because of the severe capital impairment that it was faced with.

Figures released by the central bank showed the total liability of UT Bank stood at GH¢850 million with a total asset of GH¢112 million.

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