UT Bank founder, Kofi Amoabeng, granted bail



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An Accra Circuit court has granted bail to the President of UT Holdings, Prince Kofi Amoabeng.

The famous business leader was put before court on Tuesday to face charges of stealing and money laundering in the collapse of UT Bank Ghana Limited.

He was granted bail, by the court presided over by Justice Essandor, to the tune of GHS110 million with two sureties who earn not less than GHS 2,000.

As part of the bail conditions, Mr. Amoabeng is also to deposit his passport and report to the police twice a week.

Justice Essandor in explaining his decision said it was based on “sound advocacy” by lawyers of Kofi Amoabeng.

Source: Citinewsroom.com