Three Bank officials indicted over alleged fraudulent acts

| Updated Mar 21, 2017 at 8:00pm



Three officials of Akyempim Rural Bank in the Central Region have been indicted over alleged fraudulent acts.

A two year forensic audit conducted by an accounting firm, engaged by the ARB Apex Bank to verify the accounts of the Akyempim Rural Bank led to the indictment of the three officials.

They are being held for fraud which occurred from 2010 to the second quarter of 2015 that has led to liquidity crisis of the bank.

They are the General Manager Jacob Wellington Assan, Operations Manager Frank Baah, and the Credit Manager Nifah Owuba.

The Interim Chairman of the Board of Directors of the bank, Alex Coffie, said this at the 30th Annual General Meeting at Gomoa Dawurampong.

The alleged fraud was detected by the audit team after the bank could not pay salaries of government workers and other clients.

Mr Coffie said Mr Assan and Mr Baah were interdicted shortly after findings were made known.

The Board Chairman said other staff members who were involved in fraudulent activities have also been dismissed.

The bank has decided to arraign the three officials before court to retrieve the funds.