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Thursday, March 30, 2023

Banking crisis: 50 directors, shareholders of collapsed banks to face court

Fifty directors and shareholders of the seven collapsed banks are expected to face trial over their alleged culpability in the banking crisis.

This follows the referral of their dockets to the Attorney General’s office after the conclusion of the work of a special team set up to investigate financial crimes in the country.

According to the Daily Graphic, a special investigative team is awaiting the appropriate charges to be preferred against these directors based on the outcome of their investigations.

The collapsed banks are uniBank, UT Bank, Capital Bank, Royal Bank, Construction Bank, the Beige Bank and Heritage Bank.

The central bank noted that affected banks operated with severe capital constraints as it revoked their licences.

The crisis saw the deposits of some 1.5 million Ghanaians affected though the government stepped in to safeguard their monies.

Protecting the depositors has so far cost the state GH¢9.9 billion, according to the Finance Minister.

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