Kanawu Radio number 1 news portal
Founder of defunct Capital Bank, William Ato Essien and Rev. Fitzgerald Odonkor, former MD
The High Court of Ghana will on Thursday December 1, 2022 deliver a ruling regarding the matter of the defunct Capital Bank Limited and its founder William Ato Essien.
Ato Essien has been standing trial along with the former Managing Director of the defunct bank, Fitzgerald Odonkor and the MD of MC Management Services, a company said to be owned by Ato Essien and one Tettey Nettey.
The state prosecution has accused the three persons of engaging in various illegal acts that led to the dissipation of a chunk of the GH¢620 million liquidity support given to the Capital Bank by the Bank of Ghana between June 2015 and November 2016.
But the accused persons have pleaded not guilty to the various counts of charges which include; stealing, abetment to steal, conspiracy to steal and money laundering.
They have however maintained their innocence all throughout the trial with Ato Essien stating at all material moments, he had the requisite Board approval for all the actions he undertook while serving as founder of the financial institution.
Meanwhile, His Lordship Eric Kyei Baffour of the Court of Appeal sitting as an additional High Court Judge is expected to deliver the judgment in the matter on December 1, 2022.
