President of UT Holdings, Prince Kofi Amoabeng, has been cleared of all the allegations of criminality brought against him by one Nana Otua Swayne.

Nana Otua Swayne had claimed that Mr. Amoabeng fraudulently acquired her property after she released the title deeds of the said property to him.

But the Human Rights Division of the High court quashed the proceedings at the Circuit Court in Accra and declared the suit unlawful, illegal and an infringement of Mr Amoabeng's basic human rights.

The decision of the Court followed an application filed by Mr Prince Amoabeng praying the court to declare that his trial before the Accra Circuit Court is an infringement of his human rights and requested the court to restrain the circuit court from hearing and determining the suit by Nana Otua Swayne.

The Human Rights court, presided over by Justice Kofi Essel Mensah, granted the application and prohibited the Circuit Court from hearing the case.

In his ruling, the trial judge stated that there was incontrovertible evidence to show that the full payment in the transaction which is the subject matter of the court case, was made to Nana Otua Swayne, with the first respondent (Naa Swayne) acknowledging final receipt of payment.

At the time of lodging her complaint, she had long ceased to be owner of the property and therefore did not have any lawful claim to the property, to be defrauded of it, the ruled.

Responding to the ruling, Mr. Amoabeng said he was satisfied with the decision of the court.

He told Joy Business the lawsuit has negatively affected his company.

He is, however, hopeful the ruling would help restore investor confidence in the UT Group.

Background

In January 2013, Nana Otua Swayne filed a case against Mr. Prince Kofi Amoabeng alleging a fraudulent acquisition of her property through the release of the title deed of the said property to one Mr. Alexander Adjei (now deceased) to secure a loan from HFC Bank.

Nana Otua, in October 2005 decided to sell her house at Number 23 Ringway Estate in Accra and entered into a sale agreement with the late Alexander Adjei where the payment price was to be made in installment.

The terms of the agreement were that the property should pass to the purchaser on actual completion of payment. Consequently, UT Financial Services released the title deed to the Purchaser upon payment of the full purchase price as agreed.

However, in her statement of claim the plaintiff, Nana Otua Swayne, said after negotiations it was agreed that the selling price was 280,000 US Dollars, payable in three installments in October, November and December respectively.

However, the UT boss suggested that since she (Owusuaa) was relocating to the United Kingdom and the purchase price was not going to be paid in full, he (UT boss) was ready to advance a loan of Gh¢25,000 with reduced interest rate of 6 percent so that when the November installment payment comes it will be deducted at source.

Nana Otua also indicated in her writ that, in furtherance of the loan, Mr. Amoabeng collected the indenture as collateral but failed to provide the loan as promised.

The lawyer for plaintiff advised her that since she was going be out of Ghana for more than 90 days during which time full payment of the purchase price would have been made, she should execute a “Deed of Assignment” so that upon completion of payments the transfer of ownership would be smooth.

But after the plaintiff signed the Deed of Assignment, she claimed, her lawyer handed over the said Deed to the UT boss.

On October 14, 2005, UT boss sent the indenture and Deed of Assignment to the Lands Commission and registered the property in the name of the late Alexander Adjei.

The statement further explained that on the same day, the UT boss mortgaged the said property to Mr. Asare Akuffo for a facility and on the same day the plaintiff was given the first installment of 100,000 US Dollars.

In November 2005, no payment was made as well in as December 2005, thereby constituting a breach of contract of sale and February an amount of 40,000 pounds sterling was purportedly paid as part of the contract of sale.

“To the horror of the female chief, she learnt that even though the UT boss never advanced the loan to her, he purportedly absorbed as much as US$80,000 being the supposed third and final installment, claiming a fraudulent interest of Gh¢60,000 on the unawarded loan of Gh¢25,000.

She also alleged that Mr. Amoabeng used her property to secure an unknown facility from HFC which said money he had used extensively all these years.

Naa Otua Sawyne, in her writ was seeking a relief of recovery of possession of her house, H/no. 23 Ringway Estate Osu from Mr. Amoabeng, recovery of her indenture from him and award of general damages for the wrongful and unlawful use of her indenture for monetary gain.

But the Human Rights Court disagreed with her version of the events and imposed an order of prohibition on the circuit hearing the case.