Kofi Amoabeng arrested over UT Bank collapse

Mr. Prince Kofi Amoabeng has been arrested and being prepared for court.

His arrest is in connection to the collpase of UT Bank.

Rainbowradioonline.com has gathered that he was picked up in his office in Accra Tuesday morning and sent to Circuit Court Four.

On August 14, 2017, the bank of Ghana announced it had revoked its license, together with CapitalBank.

The bank was taken over subsequently by GCB Bank.

The Bank of Ghana was forced to take this action based on provisions of the current Banking and Specialized Deposit Taking Institutions Act. 

The action was triggered by the inability of the two banks to turn around their negative capital adequacy position.

By: Rainbowradioonline.com