The Central Regional Police Command has arrested Mr Jacob Wellington Assan, General Manager of Akyempim Rural Bank and Mr Frank Kobina Baah, Operations Manager for allegedly misappropriating funds of the bank.
The arrest of the two top officials followed the recommendations made by the five- member Interim Board of Directors appointed by the ARB Apex Bank.
The committee under the chairmanship of Mr Alex Coffie would steer the affairs of the bank until a substantive board is appointed and announced at the shareholders meeting scheduled to take place December.
It would be recalled that the Board of Directors of the Bank was dissolved by the Apex Bank about five months ago.
Colonel K.K Nyame (Rtd), immediate past Board Chairman of the Bank confirmed the arrest of the two managers at Agona Swedru in an interview.
He said the two were arrested after they were invited by the Interim Board to account for their stewardship at Agona Swedru.
He said the activities of Mr Assan and Mr Baah had made extremely difficult for the bank to cope with its operations.
He said in March this year, customers of the bank, mostly teachers in the Gomoa West and Gomoa East districts and Agona West Municipality encountered difficulties in collecting their salaries.
The traders and other businessmen who had their deposits with the bank could not withdraw their monies and this brought huge agitations, which led to the intervention of ARB Apex Bank.
This aroused the attention of the board of the directors of the bank to begin investigations into the operations of the two managers.
He said the interim board had recommended the arrest and possibly prosecution of the two managers to restore confidence and trust of customers and investors in dealing with the bank.
Source – Ghanaweb