Founder of defunct Capital Bank, William Ato Essien has been handed 15-year jail term for his role in the collapse of the bank.
Ato Essien was convicted in 2022 by an Accra High for embezzling over GH¢90 million of Bank of Ghana’s liquidity support to Capital Bank resulting in its collapse in 2017.
He was remitted of a custodian sentence but ordered by the court to refund the monies to the state.
In December 2022, he made an upfront payment of GH¢30 million per an agreement he had with the state through the Attorney General and was supposed to pay GH¢20 million of the outstanding amount by April 28, 2023.
He, however, reneged on the agreement, resulting in the AG dragging him back to court.
The High Court, in a ruling today, sentenced him to 15 years in prison.
