Former UT Bank Boss Kofi Amoabeng Arrested Over Bank Collapse – Charged With Stealing and Money Laundering

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The former head of UT Bank, Kofi Amoabeng, has been arrested by the Ghana Police Service over the collapse of his bank.

Amoabeng was arraigned before an Accra Circuit Court earlier today to stand trial for the circumstances surrounding the collapse of his bank.

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According to Joy News, he’s being charged with stealing and money laundering.

Amoabeng is accused of allegedly stealing more than Ghc51.3 million and $8.6million belonging to customers of the bank.

Michael Nyinaku, founder of the defunct BEIGE Capital, is also facing similar charges.

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Both defendants reportedly pleaded not guilty to the charges.

It’ll be interesting to see whether this goes anywhere or becomes an infamous Ghanaian ‘foolish case’.

Source: GhanaCelebrities.Com


Nii Smiley Byte
Nii Smiley Byte (Godwin Okine) is the Managing Editor of GhanaCelebrities.Com and a fixer for foreign journalists travelling to Ghana for work. Nii has three strong passions in life -- football, blogging and music -- in that order. His motto is that 'you can do everything you set your mind to', stolen without regret from the greatest rapper the world has ever seen, Eminem. For writing or fixing gigs, contact [email protected]