The Founder of defunct UT Bank, Prince Kofi Amoabeng has denied reports that he failed to account for 5 million cedis debt repayment to the Board which contributed to the revocation of the bank’s license in August 2017.
In his major public comment after the revocation of the bank’s license over a year now, Mr. Amoabeng said he is saddened by the turn of events especially with the fact that the organization he toiled so hard to build over 20 years ceases to exist.
A statement from Mr. Amoabeng to Citi Business News said that the 5 million cedis transaction rather involved the purchase of his personal property which the buyer agreed to transfer payments to his [Prince Amoabeng’s] personal account with UT Bank at the time at the time.
UT Bank is one of the two banks that had their licenses revoked in August 2017.
Outlining his side of the story, Mr. Amoabeng said that the said amount in question rather emanated from the sale of his property proceeds of which were supposed to be lodged in his personal account with the bank.
He explains that the move was also to help shore up the bank’s liquidity and therefore could not fathom why Boulders Advisors Limited could not capture his response in their conclusions for their report.
“Due to UT Bank’s challenges at the time, I instructed that payment of the said house be made to my personal bank account at UT Bank to help shore up the company’s liquidity. I wonder then, how, my decision not to disclose payment of monies into my personal account for the purchase of my personal residence constitutes a misdeed as suggested by several news reports,” excerpts of the statement said.
The report by Boulders Advisors Limited also cited indebtedness to the bank including that of three companies belonging to Ibrahim Mahama to the tune of 302 million cedis.
But Ibrahim Mahama has since dismissed claims of owing the said amount.
His lawyers rather blamed the bank for breaching a contract of providing a credit facility to help the company carry out some major investment plans including the establishment of a cement factory.
Again, Mr. Amoabeng says he is saddened at the turn of events as he had wished to build an international Ghanaian owned company.
Meanwhile the former UT Bank CEO says that the move is impacting the operations of other companies of UT which has made it difficult to service payments due investors.
“The actions so far taken by the central bank have adversely affected the operations of the remaining group of companies of UT. The UT brand which was previously a superbrand a few years ago has been totally defamed. The situation has for instance led to difficulties in the servicing of payments due investors.”
However, Mr. Amoabeng says he will continue to co-operate with all state agencies probing the development for finality to be brought to this matter.
Source: citinewsroom.com
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Ibrahim and his lawyers are big liars and if we really are transparent in this country, the law should deal with Ibrahim and his companies. does he remember when he asked his brother the president and a top official of the central bank to plead with kofi amoabeng and ut bank on his behalf to get the loan? betrayal and ungrateful Ibrahim, he uses the money to fund his wife and kids to lead a lavish life as well as his girlfriends. is he above the law that no one can touch him? did he attend any of the meetings set up by ut for him to pay back the loans? if UT breached the contract why was he asked to come and pay the loan and he did not turn up at the meeting he pleaded to attend but rather asked his brother the president to call again and reschedule the meeting. mr. amoabeng trust people too much and that always leads to his downfall but as long as the person has a good heart, it shall be well. Ghanaians are very good with pull him/her down syndrome, we never praise our own, we rather look for ways for negativity. if the person did not engage in drugs to make money the it is black power. they praise you one minute and the next minute you are the devil - hypocrisy is what we eat in ghana
You big ***barred word***!!! He waited because he is matured and didn't want to come out since the matter was in the hands of EOCO and he respected the government agencies to do their works since his hands are clean and everything were in the books. what ***barred word*** people like you don't know is that he employed people to act as managers etc so whatever that comes to him for his final signatures goes through the credit manager, procurement manager, all sorts of managers of the bank for their recommendation etc before it comes to him so by the time it gets to him about 5 to 8 managers have looked at the document and have signed so his is to give his final signature. how many eyes has he got to investigate from all the branches? remember also that he went on retirement and employed others to take over but he has kept quiet because he is the boss so want to take responsibility rather than others who are running away as executive members etc. if he ruined his workers and customers why did he sell his house to boost the liquidity. get your facts straight because for now, I see you as a shallow minded person who is so ***barred word*** to insult someone who employed a family member of yours sometime past.
Why wait all this while? Too late in the day... Greedy thifs.... You have destroyed your workers and customers lives.