Founder of
defunct Capital Bank, William Ato Essien is reportedly pleading with the court
not to put him behind bars if he is unable to fulfill his promise of paying
GH₵20million to the state by April 28, 2023, as promised.
He is therefore
appealing to the court to allow him to explain why he is unable to pay.
This was
contained in a fresh document filed by the convict’s lawyers challenging the
High Court's December 13, 2022 decision.
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The court,
therefore, accepted the terms of the agreement Mr. Essien had entered into with
the state represented by the Attorney General.
Mr. Essien is
required to pay an amount of GH₵90 million as restitution and reparation to the
state within one year which is spread over three installment plans.
He has, however,
paid an initial amount of GH₵30 million. By April 28, 2023, he is to pay some
GH₵20million to the state as his first installment while the second is due on
August 31, 2023.
Mr. Essien was
to be arrested and produced in court for a custodial sentence to be imposed,
should he default in the payment or even fall short of the required amount.
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But Mr. Essien in fresh court documents however points out that current economic challenges make it imperative for him to be allowed to explain a default before any such move is undertaken.
William Ato
Essien, Rev. Fitzgerald Odonkor, and Tetteh Nettey, a former managing director
of MC Management Service, owned by Mr. Essien, were accused of participating in
a 23-count conspiracy to steal GH₵620 million in liquidity support that the
Bank of Ghana (BoG) provided to the bank to help it pay off its maturing debt.
SOURCE: PULSE.COM.GH
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