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The Economic and Organised Crime Office (EOCO) after an investigation has discovered that owners of some of the Collapsed financial institutions used monies deposited in their firms to purchase homes in foreign countries.

Mr Eric Nana Nipah, Official Receiver and Liquidator of the collapsed nonbank financial institutions made this known in an interview on Peace FM's morning show 'Kokrokoo', Thursday.

The investigation also proved that instead of investing the monies given to them, they diverted it into their personal accounts.

"After investigations by EOCO some of the properties have been traced outside the country and most of these properties were acquired using depositors' money. Other investigations also show that some monies were diverted into the personal accounts of owners," he indicated.

According to him, "very soon they will be prosecuted because we now have clear and solid evidence and based on interrogations we have more evidence to prosecute them".

Listen to him in the video below