Kofi Amoabeng Granted ยข110m Bail

The circuit court has granted bail to founder of defunct UT Bank, Prince Kofi Amoabeng, who is facing charges of stealing and money laundering.

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.

The founder of the defunct UT Bank together with the founder of the defunct BEIGE bank, Michael Nyinaku have 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 levelled against them when they appeared before the Accra Circuit Court Tuesday, Graphiconline reported.th UT Holdings.