Audio By Carbonatix
Revelations by the Central Bank indicate what auditors term “willful deceit” on the part of shareholders and directors of defunct UT and Capital Banks.
A 2014 Bank of Ghana (BoG) Examination and Inspection Report by Boulders and Advisors Limited also found that there was a significant amount of inter-group lending within the two banks.
This was after a review of two forms of related party transactions; first was loans granted to individuals and companies related to the bank and loans granted to companies connected to one another by ownership and directorship but unrelated to the bank group.
So which companies did UT give loans to? The infographic below gives details.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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