The Ghana International Bank has dispelled reports suggesting that Otumfuo Osei Tutu II is a party to the ongoing case about Mark Arthur’s breaches of the Bank’s internal policies and procedures as well as UK laws.

A press statement issued by Myddleton communications on behalf of management of the bank states that there has never been any suggestion by the Bank that the Asante monarch was or is involved in money laundering.

“The Tribunal’s proceedings and its findings will be about whether the Bank was entitled to dismiss Mark Arthur as it did and not about the King, Otumfuo Nana Osei Tutu II.”

“There has never been any suggestion by the Bank that the King was or is involved in money laundering. In fact, we have no evidence to that effect. The bank has also not in any of its submissions questioned the integrity of the King.” It notes.

Management of the Ghana International Bank further cited in the statement that it never mentioned the King nor identified him in any of the documents submitted to the Tribunal in its defence.

“With a focus on the substance of the matter and for customer confidentiality purposes, the bank had applied for an anonymity order in September of this year ahead of the Tribunal Proceedings in October. This would have eliminated the mention of name of the king in the proceedings of the tribunal. Additionally, the Bank never mentioned the King nor identified him in any of the documents submitted to the Tribunal in its defence.”

On October 10, 2017, telegraph.co.uk carried a story that Otumfuo Osei Tutu II, traditional ruler of the Kingdom of Ashanti, summoned Mark Arthur to his multimillion-pound residence in Henley-on-Thames and handed him a bag containing almost £200,000 in sterling as well as $200,000 in US currency with consecutive serial numbers, the bank official felt it inappropriate to ask too many questions.

However, the subsequent deposit of the cash at Ghana International Bank triggered a money laundering alert in the City of London and cost Mr Arthur his job.