'Ghanaians want bad stories' – Prince Amoabeng debunks claims of stealing from UT bank

Former UT Bank founder and CEO, Captain (Rtd) Prince Kofi Amoabeng, has dismissed allegations that he stole people’s investments, asserting that Ghanaians often believe negative stories.

According to him, he worked tirelessly to build UT Bank, and the notion of stealing from it is akin to a mother harming her child.

Amoabeng rejected the claims of misappropriation of funds, describing them as baseless and illogical.

“It started with investigations at EOCO, which lasted over a year, possibly two years,” Prince Amoabeng recounted during an interview with Accra-based Joy News.

“Then the file was sent to the Attorney-General’s Department. I was surprised when charges were filed against me because I had left the bank before the incidents in question,” he added.

He explained that all investments had a maximum maturity period of one year, meaning that during his 20-month absence, all investments should have matured. Investors would have had the option to renew, roll over, or withdraw their funds.

He noted that no one had complained of missing investments.

“When witnesses were brought to court, no one could produce any signature of mine authorizing the movement of these investments. Nobody has seen me physically carrying money anywhere. So how could I have misappropriated investors’ funds?” Amoabeng questioned.

He suggested that the allegations were part of a deliberate effort to tarnish his image.

“Initially, it seemed like the government wanted to score cheap points. But as the investigations progress, I’m confident the judge will uncover the truth. I am extremely positive that I will not be jailed or found guilty of anything. I know what I did,” he said.

Using a powerful analogy, Amoabeng expressed disbelief at the accusations.

“It’s only in Africa that you might nurture and educate a child, and when that child dies, people say the mother killed them. How could I, after working so hard to build UT Bank, steal from it? It doesn’t make sense. Ghanaians often want bad stories, and we tend to have a negative mindset, so people are quick to believe such accusations,” he remarked.

Prince Amoabeng expressed confidence that the truth will emerge in due course.

“I have faith in the system, and I believe the truth will prevail,” he concluded.

SSD/MA

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