"Financial sector hurting over snail-pace conviction of failed banks directors

" \n Chief Operations Officer for Dalex Finance, Joe Jackson, has said delayed prosecution of imprudent executives of the 9 failed banks by Government has resulted in a lost of confidence in the sector. \n \n\n \n Speaking on 3 FM's Sunrise show on Wednesday, Mr Jackson called for the quick prosecution of directors of the collapsed banks to restore fully public confidence in the financial sector. \n \n\n \n \u201cHow can we induce confidence in the investor when the signal we are giving out is that someone does wrong and gets away with it. That we haven\u2019t seen any conviction yet is sad,\" he said. \n \n\n \n \"The public confidence is low because they look around and see other officials walking around. Where is the state that is supposed to keep them in check,\" he quizzed. \n \n\n \n \u201cJustice delayed is justice denied, this thing has been going on for four years and where are the convictions?\" \n \n\n \n \u201cIt is really bad for those of us operating in the market. Because it says that, if I misbehave, if I am reckless, if I am fraudulent, there will be no punishment and I will get away with it. When you are not convicting them, you are doing the market harm, you are doing the customers harm in terms of confidence as well as those who are in the business trying to do good and that doesn\u2019t make sense,\" he added. \n \n\n \n Already, some directors of the collapsed banks including William Ato Esien and Michael Henaku of the Capital and Beige banks, respectively, have been arraigned following their alleged involvement in some issues that led to the collapse of their banks. \n \n\n \n Similarly, Prince Kofi Amoabeng, Director of the defunct UT Bank and also founder of the defunct Unibank, Dr Kwabena Duffuor along with some officials of the BoG including Dr Johnson Asiama, have also been charged \n \n\n \n \n "

"Financial sector hurting over snail-pace conviction of failed banks directors

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