The High Court presided over by Eric Kyei Baffour of the Court of Appeal sitting as an additional High Court judge, is expected to give judgement in the case involving the founder of the defunct Capital Bank, William Ato Essien, today, Thursday, December 1, 2022.
Mr. Ato Essien has been standing trial together with two others for his role in the collapse of the bank on 23 counts of criminality, including conspiracy to steal and stealing.
Former Managing Director of the Bank, Rev. Fitzgerald Odonkor, and a former Managing Director of MC Management Service, Tetteh Nettey, also owned by Mr. Ato Essien, also faced similar charges.
According to the prosecution, the accused persons siphoned liquidity support of ¢620 million bailouts given by the Bank of Ghana to keep Capital Bank afloat.
Prosecution said they opened various bank accounts with Capital Bank through which the ¢620 million liquidity support was transferred while others were carried in jute bags to Ato Essien.
They have pleaded not guilty to the charges with Mr. Ato Essien maintaining that at all material moments that he had the approval of the bank’s Board for all actions he took.
His Lordship Eric Kyei Baffour is thus expected to decide the fate of the accused persons today.
