The former Managing Director (MD) of defunct Capital Bank, Reverend Fitzgerald Odonkor, has told an Accra High Court he did not assist the founder of the institution William Ato Essien in taking money from the bank.
“I say that I have not abetted the 1st Accused in taking money of Capital Bank as alleged, I only acted as an employee of Capital Bank which executes decisions of the Board to the best of my ability”, he stated.
Reverend Odonkor, together with the bank’s founder William Ato Essien and businessman Dr Tetteh Nettey, have been slapped with 26 charges, including stealing various sums worth over ¢260 million.
State Prosecutors allege that between June 2015 and October 2016, William Ato Essien, with the support of Rev. Odonkor, appropriated a total of ¢27.5 million of the liquidity support, which was conveyed in jute bags.
Mr Essien is said to have further taken money given to the bank as liquidity support by causing ¢100 million to be paid into a Capital Bank Account held by the Managing Directors of the following three companies; Maripoma Enterprise Limited, Hardwick Limited and Volta Impex Enterprise Limited opened purposely to receive the amount.
The ¢100 million was to be used by the Managing Director of the three companies ostensibly as payment for 30% shares in Capital Bank.
The state says as part of the cover-up of this act, Mr Essien prevailed on the Managing Director of the companies to submit copies of Government Payment Certificates of the three companies valued at ¢135million to be discounted to ¢105 million by Capital Bank to be used as collateral for the purported loan of ¢100 million.
Rev. Odonkor told the court the Capital Bank Board approved these certificates.
“I say with regard to Discounting of Certificates of Maripoma, Volta Impex and Hardwick; the transaction for capitalization was approved by the Board. Management went ahead to verify the certificates from the Ministry of Finance and Urban Roads,“ he explained.
He stated further that he has never signed any cheque or transfer instrument “regarding the matters” for which he has been charged in court.
“I say that I am not guilty of any of the charges against me,” he concluded.
The case has been adjourned to April 28, 2022, for continuation.
- Review e-levy rate to 0.5% with ¢300 daily threshold – Minority tells government
- Government’s ban on use of V8s in Accra, a mere sloganeering – Dr Theo Acheampong
- MPs converge at Volta Serene Hotel for post-budget workshop
- One arrested, others on the run after allegedly murdering police officer
- After 5 years of repackaging, Skuuls Reunion returns today at El Wak Stadium
- Photos and videos: HITZ FM Skuuls Reunion underway at El Wak Sports Stadium
- Indonesian woman’s body found inside python, say reports
- Government must be commended for reducing e-levy rate – John Kumah
- Sights and sounds: ‘Jama’ session, exciting skaters kick-start Hitz Old Skuuls Reunion
- Ghana is not serious about social progression and inclusivity – Prof. Bokpin
- Kuami Eugene, Eno Barony and Keche climax HITZ Skuuls Reunion’s return
- British Council urges student’s under IAU Programme to become good entrepreneurs
- LUV FM’s morning show team distributes about 1,000 pieces of sanitary pads to needy girls
- Photos and videos: Artistes thrill patrons at HITZ Skuuls Reunion
- Mbappe scores twice as France reach knockout stage
- Messi scores in vital Argentina win over Mexico
- Tullow Ghana reaffirms commitment to grow indigenous capacities
- Ghana’s 2023 Budget: A Missed Opportunity
- I hope Afriyie Barnieh will be used in one of the games at the World Cup – Hearts of Oak General Manager
- VP Bawumia launches $450m Gulf of Guinea Social Cohesion Project
- Gov’t promises more support to Ghana Police
- BoG pegs cedi depreciation to dollar at 54%
- Ghana’s reserves fall to 2.9 months of import cover in October 2022; trade surplus hits $1.87bn
- Average lending rate hits 31.40% in October 2022 – BoG
- Lynx Entertainment unveils kids sensation Afrapa