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Ato Essien’s fate hangs as court rules on his case today


Founder of defunct Capital Bank, William Ato Essien
Founder of defunct Capital Bank, William Ato Essien

An Accra High Court is expected to give judgement in the criminal trial of founder and former Chief Executive Officer of defunct Capital Bank, William Ato Essien today, December 1, 2022.

Mr Essien and two others have been undergoing trial for the roles they played in the collapse of erstwhile, Capital Bank.

Mr 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.

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.

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