Court issues bench warrant to effect arrest of UT’s Kofi Amoabeng

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Prince Kofi Amoabeng – CEO of UT Holdings

An Accra circuit court on Monday issued a bench warrant to effect the arrest of the Chief Executive Officer of UT Financial Services, Prince Kofi Amoabeng, for failing to appear before it.

Amoabeng is standing trial with legal practitioner, John Aidoo, over alleged fraud charges. When the case was called Amoabeng was absent.

Prosecution noted that since July this year that the matter was brought before the court, Amoabeng has not been in court, hence prayed it to issue a bench warrant to effect his arrest.

The case has been adjourned to November 13 by the court presided over by Mrs Naa Adoley Azu.

Amoabeng has been charged with fraud, and John Aidoo, a lawyer, is being held for abetting crime.

Amoabeng is accused of releasing title deed documents of one Naa Otuah Sawyne, which was in the custody of his bank to one Alexander Adjei, now deceased, to secure a loan of GH¢1,279,000 from HFC Bank.

In the case of Aidoo, the court admitted him to bail in the sum of GH¢300,000 with two sureties after he had pleaded not guilty to the charge of abetment.

Prosecuting, Deputy Superintendent of Police (DSP) Aidan Dery, said the complainant; Ms Sawyne is a novelist residing at Dansoman in Accra.

DSP Dery said in October 2005, the complainant decided to sell her house at Number 23 Ringway Estate in Accra; hence she entered into a sale and purchase agreement with the late Alexander Adjei.

Prosecution said the complainant and Adjei agreed on $280,000 as the purchase price, which was to be paid in three installments, in October, November and December 2005.

On October 14, 2005, Adjei paid $100,000 as agreed but failed to pay for the remaining amount, the prosecutor said.

According to DSP Dery, the complainant, being the vendor, was due to travel to UK so she borrowed GH¢25,000 from UT Financial Services and used the title deed of her house as collateral.

The complainant, prosecution said, therefore prepared and signed a deed of assignment conditionally in respect of sale transaction with the understanding that,  the final transaction will be witnessed by her lawyer, one Martin Nwousu, and handed over to the buyer upon full payment of the purchase price.

DSP Dery said, however, on May 22, 2006, Adjei now deceased, used the complainant’s title deed, which was at all the time in the custody of Amoabeng to obtain a loan facility from HFC Bank.

On September 27, 2007, Amoabeng, without recourse to the complainant, wrote a letter to State Housing Company informing them that Adjei had purchased the complainant’s house and requested them to issue their consent to assign the property to Adjei.

Aiddo , the solicitor Secretary of SHC, having records that the complainant owned property in question signed a letter of consent and gave consent to mortgage property on July 23, 2009, an act which he (Aidoo) had no capacity to do so.

Source: GNA