The founders of two collapsed banks, UT Bank and Beige Bank have been charged for allegedly stealing money belonging to their clients.
They are Mr. Prince Kofi Amoabeng, founder of defunct UT Bank and Mr. Michael Nyinaku, the founder of the defunct Beige Bank.
The two appeared before an Accra Circuit Court on Tuesday afternoon, accused of laundering monies contrary to the laws of the country and stealing.
Mr. Amoabeng is charged with stealing GH¢99.46 million ($17.76 million), while Mr. Nyinaku is accused of stealing GH¢340 million ($60.71million).
Mr. Amoabeng was accused of using the defunct bank to invite people to invest in his bank, but transferred their monies to UT Holdings, a parent company of the bank, while Mr. Nyinaky, on the other hand, was also accused of diverting funds of investors into a secret account and ensured that withdrawals were made through him.
DAP/GIK/APA