UT Financial Services boss in court

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Accra, Nov. 13, GNA – Prince Kofi Amoabeng, Chief Executive Officer of UT Financial Services on Tuesday appeared before an Accra circuit court.

        Amoabeng made his appearance after the court had indicated its intent to arrest him if he failed to appear before it on Tuesday.

        The court admitted him to bail in the sum of GHc 300,000 with two sureties to reappear on December 11.

        At yesterday’s sitting, prosecution told the court that since the matter was brought before the court in July this year, the accused had not turned up in court hence prayed for a bench warrant for his arrest.

        Mr Addo Attuah, counsel for Amoabeng, informed the court that he had filed a letter from the Attorney General’s office dated August 28 to suspend the prosecution of the matter.

        Counsel said that letter had been copied to the Director General of the Criminal Investigations Department (CID) quoting Article 88 of the Constitution which gave the Attorney General the power to prosecute and delegate its powers to police to prosecute.

        Prosecuting, Deputy Superintendent of Police (DSP) Aidan Dery, told the court that he had not been informed by his superiors to discontinue with prosecution of the matter.  

       The court noted the AG had the power to enter into nolle prosequi (that is discontinue) a matter adding that the letter to discontinue to the matter was not addressed to the court as such could not discharge Amoabeng.

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

       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 GHc 1,279,000 from the HFC Bank.   

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

      Prosecuting, DSP Dery said the complainant; Ms Sawyne is a novelist residing at Dansoman in Accra.   

     He 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 dollars 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 dollars as agreed but failed to pay the remaining amount, the prosecutor said.   

     According to DSP Dery, the complainant, being the vendor, was due to travel to UK so she borrowed GHc 25,000 cedis 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 would 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.   

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

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