Captain Prince Kofi Amoabeng, the former founder and CEO of UT Bank, has denied accusations that he embezzled money from the bank he established, calling the accusations "baseless and illogical."
Speaking on Thursday, January 16 on Joy News' PM Express Business Edition, Kofi Amoabeng recalled that the accusations began with investigations at EOCO, which took a year plus, most likely two years, and that they do not reflect the truth of his actions or the values he upheld while leading the bank.
Kofi Amoabeng clarified that the charges were related to funds he allegedly transferred from UT Bank to UT Holdings while serving as CEO. "Then the file was sent to the Attorney General's Department. I was surprised that they filed charges against me because I had left the bank before the reported incidents."
The charges, according to Kofi Amoabeng, were related to money he allegedly transferred from UT Bank to UT Holdings while serving as CEO. "Then the file was sent to the Attorney General's Department. I was surprised that they filed charges against me because I had left the bank before the reported incidents."
He countered that if these transactions had taken place, they would have had explicit deadlines and accountability systems. Every investment has a maximum one-year maturity. All of the investments should have matured during the 20 months I was away. Investors might choose to withdraw, roll over, or renew their investments. He emphasized, "No one has complained that their investment disappeared.
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