Capital Bank founder William Ato Essien jailed 15 years for stealing 

The Accra High Court has sentenced William Ato Essien, founder of the defunct Capital Bank, to 15 years in prison for stealing over Ghc90m from the bank.

Essien was convicted in December last year for stealing over GH¢90 million and avoided a custodial sentence after an agreement was accepted between him and the Attorney-General (A-G) for Essien to pay GH¢90 million as restitution to the state.

The court, presided over by Justice Eric Kyei Baffour, found that Essien failed to pay the restitution according to the agreed terms. The agreement was under Section 35 of the Courts Act, 1993 (Act 459), which allows accused persons standing trial for causing financial loss to the state to pay the money and potentially avoid a custodial sentence. Essien paid GH¢30 million of the amount on December 1, 2022, and was ordered to pay the remaining GH¢60 million in three instalments.

SOURCE: GRAPHIC ONLINE