Before his hearing for a jail sentence today, William Ato Essien, the former CEO of the now-defunct Capital Bank, paid the state GH4 million.
A Deputy Attorney-General named Alfred Tuah Yeboah verified this payment, which represents 20% of the GH20 million he had committed to pay, in court on Thursday morning (May 11, 2023).
On May 2, the Attorney-General submitted an application to the Accra High Court asking for a jail term for Essien's refusal to make the agreed-upon payment.
William Ato Essien, the founder of the now-defunct Capital Bank, has been requested to be imprisoned in an application filed by the Attorney-General (A-G) before the High Court in Accra.
Before his hearing for a jail sentence today, William Ato Essien, the former CEO of the now-defunct Capital Bank, paid the state GH4 million.
A Deputy Attorney-General named Alfred Tuah Yeboah verified this payment, which represents 20% of the GH20 million he had committed to pay, in court on Thursday morning (May 11, 2023).
On May 2, the Attorney-General submitted an application to the Accra High Court asking for a jail term for Essien's refusal to make the agreed-upon payment.
William Ato Essien, the founder of the now-defunct Capital Bank, has been requested to be imprisoned in an application filed by the Attorney-General (A-G) before the High Court in Accra.
The A-G argues in the motion that Essien missed the payment deadline after checking with the Controller and Accountant General Department.
"That the Controller and Accountant General told the applicant [A-G] in a response dated May 2, 2023, that the respondent [Essien] had not made such a payment.
The overdue money under the agreement has become due, and the respondent is subject to a jail sentence by the court, the A-G said, since he has failed to comply with a condition placed on him by this Honourable Court under Section 35 of the Courts Act.
Guilty
Essien was found guilty on his own after entering a guilty plea to 16 charges of theft and money laundering on December 13 of last year.
However, the court approved a deal between the defendant and the prosecution for him (Essien) to pay the GH90 million in restitution; therefore, the criminal escaped a non-custodial term.
The arrangement was made in accordance with Section 35 of the Courts Act, 1993 (Act 459), which permits defendants facing trial for causing the state financial loss to pay the money and maybe avoid serving time in prison.
According to the contract, Essien has already paid the state GH 30 million (out of the remaining GH 90 million) and will pay the final GH 60 million in three GH 20 million installments by the end of this year.
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