Founder of defunct Capital Bank, William Ato Essien

An Accra High Court would on December 1, 2022 give judgement in the criminal trial of founder and former Chief Executive Officer of defunct Capital Bank, William Ato Essien, and two other persons.

The three have been undergoing trial for the roles they played in the collapse of erstwhile, Capital Bank.

Their trial came to a close on July 28, 2022, and the court presided over by Justice Eric Kyei Baffour, a Court of Appeal judge sitting as an additional High Court judge, gave the prosecution as well as the defence lawyers up to October 17, 2022, to file their respective written addresses in support of their case.

The court subsequently adjourned the case to November 17, 2022, to deliver its judgment in the case in which the suspect have been accused of stealing from the ¢620 million liquidity support given to the then-struggling bank by the Bank of Ghana.

William Ato Essien, Rev. Fitzgerald Odonkor and Tetteh Nettey, a former Managing Director of MC Management Service owned by Mr. Essien were charged with 23 counts of conspiracy, stealing from the ¢620 million liquidity support given to the bank by the Bank of Ghana (BoG), to enable it to service its maturing debt.

The accused persons, according to the prosecution, opened various bank accounts with Capital Bank through which the ¢620 million BoG liquidity support was transferred while others were carried in jute bags to Ato Essien.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.