JUST IN: Kofi Amoabeng Arrested Over UT Bank Collapse

Founder of the now-defunct UT Bank, Prince Kofi Amoabeng, has been arrested, Tuesday, over the collapse of the bank.According to reliable reports he has already been prepared for court.

The Bank of Ghana on Monday, August 14, 2017 revoked the licences of UT and Capital banks due to their insolvency, leading to a seamless takeover of the two banks by GCB Bank.

UT Bank, which was trading on the Ghana Stock Exchange, had its listing status also suspended.

Provisional figures showed the total liability of UT Bank stood at GH¢850 million while its total assets was pegged at GH¢112 million.

The business Mogul has since the revocation of the licence of UT Bank been a subject of investigations for what the central bank has termed as ‘willful deceit’.