Ato Essien

Sheer Greed! – Judge Fumes Before Sentencing Ato-Essien To 15-Year Jail Term
13 Oct

Sheer Greed! – Judge Fumes Before Sentencing Ato-Essien To 15-Year Jail Term

wontumionlineNews, , ,
Justice Eric Kyei Baffour, the judge who sentenced the founder of the defunct Capital Bank, William Ato Essien, has justified his ruling. He said the convict (Ato Essien) demonstrated sheer greed and needed to pay the price for his action. Delivering his ruling on Thursday, October 12, the judge insisted that Mr Essien aimed at stealing gargantuan sums of money from the state through his conduct. According to the judge, nothing was going to have him (Ato Essien) change his mind on the matter. “The convict demonstrated sheer greed in his desire to own another bank besides Capital Bank Ltd…
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Capital Bank’s Ato Essien Sentenced To 15 Years In Prison
12 Oct

Capital Bank’s Ato Essien Sentenced To 15 Years In Prison

wontumionlineBusiness, News, , ,
Founder of defunct Capital Bank, William Ato Essien has been sentenced to 15 years in prison by an Accra High Court today. Mr Essien was convicted of stealing over GH¢90m of Bank of Ghana’s liquidity support to the now-defunct financial institution. This comes after his inability to fully pay the said amount back to the State after agreeing to do so despite being afforded the opportunity. He earlier paid ¢30 million upfront in December 2022 and was required to pay ¢20 million as the first installment of the ¢60 million outstanding amount by April 28, 2023. But he was only able…
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High Court Gives Essien Up To July 27 To Pay Outstanding GH¢12Million
07 Jul

High Court Gives Essien Up To July 27 To Pay Outstanding GH¢12Million

wontumionlineBusiness,
The Accra High Court has given William Ato Essien, the Founder of the defunct Capital Bank up to July 27 2023, to enable him pay the outstanding of GH¢12million in respect of the second tranche as agreed in the terms of settlement. Mr Baffour Gyawu Ashia for the convict informed the Court that they have made payment of GH¢2million in addition to previously paid sums, making a total of GH 8 million since the last adjourned date, leaving a balance of GH¢12million in respect of the 2nd tranche of GH¢20million, which was to be settled by April 28, 2023. He…
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Court Agrees Ato Essien’s GH¢90m Repayment Terms
14 Dec

Court Agrees Ato Essien’s GH¢90m Repayment Terms

wontumionlineBusiness
An Accra High Court has revised its stance and agreed to the terms of Ato Essien’s GH90 million payback agreement. The settlement agreement reached by state prosecutors and the troubled founder of the now-defunct Capital Bank, Ato Essien, was rejected last week by the court presided over by Justice Eric Kyei Baffour. The agreement was rejected by Justice of Appeal Eric Kyei Baffour, who was sitting as an additional High Court Judge, stating that the amount promised to be paid was insufficient. The case was then postponed until December 13 so that the parties could address the court regarding the legality of…
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Court To Give Judgement On Ato Essien Thursday
28 Nov

Court To Give Judgement On Ato Essien Thursday

wontumionlineBusiness,
The High Court presided over by Eric Kyei Baffour of the Court of Appeal sitting as an additional High Court Judge will be giving its verdict on case involving the Founder of the defunct Capital Bank, William Ato Esien for his alleged role in the collapse of the ban on Thursday. Mr Ato Essien and two others were accused of siphoning liquidity support of ¢620 million bailouts given by the Bank of Ghana (BoG). According to the prosecution, the accused persons opened various bank accounts with Capital Bank through which the ¢620 million liquidity support was transferred while others were…
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