Prince Kofi Amoabeng reveals how he used to 'booze' before pouncing on loan defaulters

Capt. Prince Kofi Amoabeng (Rtd), the President of UT Group of companies, has opened up in a one-on-one interview on Peace FM's flagship programme 'Kokrokoo' programme about UT Financial Services' mode of ensuring the company's clients honoured their loan pledges.

UT Financial Services was a company that many Ghanaians ran to for loans since their clients could access loans within 48 hours.

However, a once flourishing financial institution is now inoperative.

The Bank of Ghana on August 7, 2017, declared UT Bank insolvent after it failed to meet the minimum capital requirement.

“Despite repeated agreements between the Bank of Ghana and UT Bank and Capital Bank to implement an action plan to address these significant shortfalls, the owners and managers of UT Bank and Capital Bank were unable to increase the capital of the banks to address the insolvency,” BoG statement read.

Launching a book titled 'THE UT STORY: Humble beginnings' and authored by him, Capt. Prince Kofi Amoabeng (rtd) has justified the 'gorilla' style of chasing his clients who defaulted in the payment of their loans.

He detailed to host Kwami Sefa Kayi how he and his staff seized people's assets such as cars as collateral to pay off the loans.

He explained that he secretly pounced on the defaulters and took their cars because whenever one was seeking a loan from the company, he or she is made to transfer the car into UT name before the loan is granted, therefore ''the car the person is driving is UT car. So, if we're collecting it, it's because it's our car''.

He further narrated how he once stalked a client who wasn't paying up his/her loan.

"One thing I used to do is that if you don't come to redeem yourself and I come to your house to meet your absence, I will search for where they sell Guinness and strategically sit there watching your gate. If you're lucky and I drink one or two, then it means I am not drank yet, but if you keep long and I gulp about four or five bottles, then you are in trouble when I find you," he said.

TWI NEWS