By Lisa Rix - November 2017
Ghana International Bank’s second most senior executive was sacked recently after picking up £350,000 in cash from Osei Tutu II, one of Africa’s wealthiest rulers, and taking a taxi to deposit it at the bank. Apparently, due to the status of Osei Tutu II, the bank official felt it inappropriate to ask too many questions…
The subsequent deposit of the cash at Ghana International Bank triggered a money laundering alert in the City of London. The bank carried out an investigation and held that the bank official had failed to follow anti-money laundering rules and had violated security policies as it was only insured to carry cash by armoured car up to a maximum of £250,000.
As a result, the bank executive was sacked. He has since complained to an employment tribunal of wrongful dismissal, unfair dismissal and failure to protect a whistleblower, but it remains to be seen whether these claims will be successful.