Earlier today [Tuesday, January 14, 2020], there were reports that the President of UT Holdings, Prince Kofi Amoabeng was arrested and put before the Accra Circuit court to face charges of stealing and money laundering in the collapse of UT Bank Ghana Limited.
New reports trickling in suggests that Prince Kofi Amoabeng has been granted bail.
According to Citi News, 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.
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