The founder of the defunct UT Bank, Prince Kofi Amoabeng who is facing charges of stealing and money laundering has been granted bail by an Accra Circuit Court.

The bail was granted by Justice Essandor and was in the tune of ¢110 million with two sureties who earn not less than ¢2000.

Prince Kofi Amoabeng is also expected to hand over his passport and report to the Investigative Teams handling the case at least twice in a week.

He was granted bail based on the sound advocacy of his lawyers as well as his preparedness to cooperate with the investigations.

Prince Kofi Amoabeng together with the founder of the defunct BIEGE Capital,Michael Nyinaku have been accused of allegedly stealing more than ¢390 million and $8.6 million belonging to customers.

The two pleaded not guilty to the charges levelled against them when they appeared before the Accra Circuit court on Tuesday January 14,2020.

Michael Nyinaku was however not granted bail.