Tag: capital bank
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Former Capital Bank CEO Ato Essien jailed 15 years
Former Chief Executive Officer of defunct Capital Bank, Ato Essien has been sentenced to 15 years imprisonment with hard labour. This follows his failure to pay in full an amount of GH¢90 million he agreed to pay the state despite several lifelines given him since December 2022. Ato Essien pleaded guilty to 16 counts of…
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Court gives Ato Essien grace period to settle restitution money
Former Chief Executive Officer of defunct Capital Bank, Ato Essien has been given a grace period up to July 4 to redeem his financial obligations under a plea deal he entered with the state. The Attorney General was expected to move an application on whether Ato Essien should be jailed for not paying GH¢20 million…
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Capital Bank case: Fitzgerald Odonkor, Tetteh Nettey acquitted and discharged
An Accra High Court has acquitted and discharged the Second and Third accused persons in the Capital Bank case, Tetteh Nettey and Rev Fitzgerald Odonkor. The two were both charged alongside the founder of the defunct bank Ato Essien. In April this year, Rev. Odonkor revealed that he was against the bank’s payment of GH¢27.5…
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Capital Bank collapse: Ato Essien willing to refund GHS27m to the state
Lawyers for the former Chief Executive Officer (CEO) of defunct Capital Bank, William Ato Essien, who is facing trial for the collapse of the financial institution, have indicated that their client is willing and ready to return about GHS 27 million to the state. Mr. Ato Essien has begun negotiations with the Attorney General to…
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Capital Bank collapse: Ato Essien wants some charges dropped after paying GHS1.4m
The former Chief Executive Officer (CEO) of defunct Capital Bank, William Ato Essien, who is facing trial for the collapse of the financial institution, has begun negotiations with the Attorney General to have some of the charges brought against him dropped. His lawyers revealed that he has paid close to GHS1.4 million, and also given…
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No witch hunt against UT, Capital banks – Addison
The Governor of the Bank of Ghana, Dr Ernest Addison has refuted suggestions that the collapse of both UT Bank and Capital Bank was a deliberate witch-hunt by the BoG. He says both banks were underperforming; hence the revocation of their licenses. According to the BoG boss, prior to the revocation, both parties showed an…
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Ato Essien, 3 others granted bail by High Court
An Accra High Court has granted bail in the sum of GH¢200 million to the founder of defunct Capital Bank Ato Essien in the ongoing trial relating to the collapse of the bank. The court also asked for two sureties of which the persons standing in should be of good standing in society. The same…
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Read: Charge Sheet of Ato Essien, 3 others over Capital Bank collapse
The state has charged William Ato Essien, founder of defunct Capital Bank, together with three others with 26 offenses leading to the collapse of Capital Bank in 2017. The charge sheet presented to an Accra High Court also included three others: Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio who played various roles at the Bank…
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Ofori-Atta, Keli Gadzekpo fires back at Ato Essien over “palpable falsehood” in Capital Bank collapse
Lawyers for Finance Minister Ken Ofori-Atta and Keli Gadzekpo, a Bank of Ghana board member, have described as palpable falsehood claims that they had wanted to acquire Capital Bank before it was shut down by the central bank. The founder of Capital Bank, William Ato Essien in an interview on Metro TV last week said…
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I can’t be prosecuted; I did no wrong — Ato Essien
The founder of defunct Capital Bank, William Ato Essien, says he does not expect to be dragged to court following comments by the Attorney General that it will soon take legal actions against persons who contributed to the banking crisis. On Metro TV’s Good Evening Ghana, he maintained that there was no malfeasance in the…