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Photo of UTBank CEO Kofi Amoabeng, at the Police station after his arrest has sighted a photo of the Chief Executive Officer UT Bank, Kofi Amoabeng at the police station after reports circulated online that he was arrested.

A few hours ago, it was reported that Kofi Amoabeng had been arrested for money laundering and the collapse of his bank, UT bank.

Kofi Amoabeng was seen simply rocking a black suit and operating his phone as some police personnel looked on.

See below:

kofi amoabeng at police station

Well, as it stands, MyJoyOnline has reported that the circuit court has granted bail to founder of defunct UT Bank, Prince Kofi Amoabeng, who is facing charges of stealing and money laundering.

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The bail granted by Justice Essandor was in the tune of ¢110 million with two sureties who earn not less than ¢2,000.

Mr. Amoabeng is also to deposit his passport and report to the investigative teams twice in a week.

Justice Essandor further explained that his decision to grant bail was based on the sound advocacy by lawyers of the accused person who has demonstrated his ability to cooperate with investigations.

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The founder of the defunct UT Bank together with the founder of the defunct BEIGE bank, Michael Nyinaku, has been accused of allegedly stealing more than ¢390million and $8.6million belonging to customers of the bank.

Mr. Amoabeng has been accused of stealing more than ¢51.3 million and $8.6million, while Nyinaku has been accused of stealing more than ¢340million.

The two pleaded not guilty to the charges leveled against them when they appeared before the Accra Circuit Court Tuesday, Graphiconline reported.


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