UK Bank Denies Linking Asantehene to Money Laundering

Otumfuo Osei Tutu II, King of Asante, Ghana

October 16, 2017//-UK-based Ghana International Bank Public Liability Company has denied linking the Asantehene, Otumfuo Osei Tutu II to any act of money laundering.

The bank in a statement said it is only in court with a former employee Mark Arthur who was dismissed for breaching its internal policies “and not about the King, Otumfuo Nana Osei Tutu II”.

The denial follows a widely publicised report on the website of London-based The Telegraph newspaper pointing to money laundering in the Otumfuo’s recent dealing with the bank.

However the bank said “There has never been any suggestion by the Bank that the King was or is involved in money laundering. In fact, we have no evidence to that effect. The bank has also not in any of its submissions questioned the integrity of the King.” It added.

“With a focus on the substance of the matter and for customer confidentiality purposes, the bank had applied for an anonymity order in September of this year ahead of the Tribunal Proceedings in October. This would have eliminated the mention of name of the king in the proceedings of the tribunal.

Additionally, the Bank never mentioned the King nor identified him in any of the documents submitted to the Tribunal in its defence.” According to the statement,  Mark Arthur contested the bank’s position not to mention the Asantehene in the case, which he won “thus exposing the identity of the king and his name in the proceedings”.

African Eye Report

Log in | Designed by Village Pixels