The management of Lushann International Energy Ghana Limited has accused the former Chief Executive Officer (CEO) of now-defunct UT Bank, Prince Kofi Amoabeng, of fraudulently colluding with two staff of the energy firm, to dupe them and the state of almost $103 million.

CEO of Lushann, Mr Quincy Sintim-Aboagye, said it is untrue that Lushann owes UT Bank $84.1 million as has been alleged.

Addressing the media at a press conference in Accra on Monday, 27 August 2018, Mr Sintim-Aboagye stated that Mr Amoabeng and two workers of Lushann messed up both UT Bank and the oil firm.

He disclosed that the company reported Mr Amoabeng to the security agencies but nothing has been done about it.

Mr Sintim-Aboagye said Mr Amoabeng “claims that Lushann was indebted to UT Bank to the tune of GHS84million, it’s not true, it was the other way round. It was UT Bank which colluded with two former employees of Lushann to rip off Lushan and the Ghana government.

“Kofi Amoabeng, the CEO of UT defrauded Lushann and the Ghana government to the tune of $102,118,204, approximately $103 million.

“Lushann reported the case to the national security apparatus: Economic and Orgnanised Crime Office (EOCO), Bureau of National Investigation (BNI), Criminal Investigation Department (CID) of the Ghana police service and the National Security in June 2014 and July 2014.

“The sad aspect of it all is that the national security apparatus did not act for an unknown reason. It is rather Amoabeng, former CEO of the defunct UT Bank and two former employees of Lushann, who were responsible for the mess and not myself Quincy Sintim-Aboagye.”