Guilty: Ato Essien pleads for time to pay GHS90m

Mr William Ato Essien
Mr William Ato Essien

William Ato Essien, a former Chief Executive Officer of defunct Capital Bank, has agreed to plead guilty in the GHS 620 million cedi Capital Bank liquidity misappropriation trial.

Essien, through his counsel, however, prayed the court to give him a year to pay the GHS90 million he has been asked to pay in three instalments.

Essien has reportedly paid GHS 30 million already.

The court scheduled today, December 1, to deliver its judgment after three years of trial.

It has, however, adjourned the matter to Tuesday, December 13, for the prosecution and lawyers of the accused to address it on Section 35 of Act 459 of the Courts Act, which relates to restitution and reparation.

Essien, with two others on trial, is accused of misappropriating the GHS620.00 million liquidity support extended to the Capital Bank by the Central Bank.

A former managing director of the Bank, Rev. Fitzgerald Odonkor and Tetteh Nettey, Managing Director of MC Management Service, also owned by Essien, are his alleged accomplices.

They have been tried on 23 counts of criminality, which include conspiracy to steal and stealing.
However, they denied any wrongdoing.

Send your news stories to [email protected]
Follow News Ghana on Google News