An Accra High Court has rejected the terms of settlement reached by former Chief Executive Officer of defunct Capital Bank, Wiliam Ato Essien and the Office of the Attorney General to refund GHS90 million he stole from the bank.
Mr. Essien is on trial with defunct bank’s former Managing Director, Fitzgerald Odonkor as well as Tetteh Nettey, a former Managing Director of MC Management Service owned by Mr. Essien for stealing from the GHS620 million liquidity support give to the struggling bank by the Bank of Ghana
The curt after three years of trial was set to deliver its judgement today but Ato Essien through his lawyers had reached an agreement with the prosecution to plead guilty and refund the GHS90 million he stole.
Per the terms of the agreement, he has already paid GHS30 million and had up to one year within which to pay the remaining GHS60 million
But Justice Eric Kyei Baffour, the presiding judge said in his candid opinion the terms of agreement are no acceptable to court.
He said the money was stolen in 2013 at the time when the exchange rate was GH3.70 to $1 and allowing Ato Essien to pay GHS90 million nine years down the line would be making crime attractive.
He, therefore, rejected the terms of settlement and adjourned the case to December 23, 2022, to allow the parties to discuss the exact amount o be paid and to address the court on whether section 35 is applicable in this case.9
Source: Daily Guide
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What’s going to happen in terms of the criminal aspects of the case. He stole the money so must be punished after the money is recovered. Or this one because the stealing was not done with guns and other harmful objects? They are part of the reasons Ghana is bleeding profusely because the BoG used state resources amounting to GHS25.0 billion for the banking sector clean up. That’s high treason because it has national security implications. The whole country is suffering due to the said stealing. From the look of things, the government wants to have a settlement with Mr. Essien because they don’t want him to go to jail. Is he better or so special than those who are being incarcerated in our prisons? What crime did Mr. Tsatsu Tsikata commit before he was jailed? These are some of the reasons why politicians don’t like Jerry Rawlings. Those days this case would’ve been settled in a public tribunal and within a week we have a judgment and firing squad. As simple as that! Why should the whole country suffer because of ***barred word*** like Ato Essien and Dr. Kwabena Duffuor?
Good work by the judge. An individual could do this to a nation? Please we should let justice prevail. Who is disturbing the nation.?
The government is part of this deal. The repercussion is that many people will steal & connive to escape justice in this same way. If Ghanaians do not take care, this government will destroy the system with its corruption
We have all these ***barred word*** among us who are milking the nation, but the radar is only on politicians. Catch them all and take the money back
Chop! Chop! How can he steal ghc690,000,000.00 and the prosecution allows him to pay only Ghc 90,000,000? Hmmmm! Hmmmm! I weep for mother Ghana God is watching!