Breaking news: William Ato Essien, the founder of the now-defunct Capital Bank, was given a 15-year prison sentence.
The Accra High Court has sentenced the founder of defunct Capital Bank, William Ato Essien to 15 years in prison for stealing over GH?90million belonging to his bank.
Mr. William Ato Essien was ordered to pay up the money which he delivered on his first installment which was GH¢30 million of the amount on December 1, 2022.
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Per the agreement as adopted by the court, he was ordered to pay the remaining GH¢60 million in three instalments with the first instalment on or before April 28, 2023, the second on or before August 31, 2023, and the last instalment on or before December 15, 2023.
Judge Kyei Baffour stated that as of right now, Essien had only paid GHC $7 million of the GHC $40 million that could have been paid, missing the deadlines of April 28 and August 31 of this year. As a result, the total amount paid was GHC 37 million of the GHC 90 million.
