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A circuit court in Accra hearing the case of Prince Kofi Amoabeng, Chief Executive Officer of UT Bank, and John Aidoo for fraud on Monday adjourned the case to November 10.

wpid-Prince-Kofi-Amoabeng-CEO-of-UT-Bank-150x150.jpgThis came up when the court presided over by Mr Francis Obiri said that the complainant had petitioned the Chief Justice.

The court said it would wait for further directives from the Chief Justice.

Deputy Superintendent of Police (DSP) Aidan Dery, the prosecutor, was present but Aidoo, the second accused, was absent in court when the case was called.

Amoabeng is charged with fraud and John Aidoo, a lawyer, is charged for abetting crime. They were both admitted to bail in sum of GH?300,000 with two sureties, after pleading not guilty.

Though prosecution had called five witnesses to make its case, Amoabeng filed a submission of no case.

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 the HFC Bank.

Following evidence given by five prosecution witnesses, Mr Amoabeng filed a submission of no case claiming that the prosecution had no case.

The judge, Mr Francis Obiri ruled on the application in January saying the prosecution had been able to prove that the document used by the deceased to secure the loan belonged to Naa Otuah.

He said the CEO of UT Bank wrote to the State Housing Corporation to transfer the title deed bearing the name of Naa Otuah to that of Adjei without the consent of the owner.

The judge also said the prosecution also proved that Amoabeng connived with Aidoo who also consented and approved the change of name without the consent of the owner.

Amoabeng went further by appealing against the Circuit Court rulings at the High Court.

Prosecution earlier said the complainant, Ms Sawyne, is a novelist residing at Dansoman in Accra.

The prosecutor said in October 2005, the complainant decided to sell her house at Number 23 Ringway Estate in Accra and 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 the remaining amount, the prosecutor said.

According to the prosecutor, 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 after final transaction which would be witnessed by her lawyer, one Martin Nwosu, it would be handed over to the buyer upon full payment.

Prosecution said, however, on May 22, 2006, Adjei now deceased, used the complainant?s title deed, which was 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 (SHC) that Adjei had purchased the complainant?s house and requested the office to issue the 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 to mortgage the property on July 23, 2009, an act which he allegedly had no capacity to do.

GNA

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