Capital Bank collapse: Ato Essien, 2 others face judgement Nov 17
Founder of defunct Capital Bank, William Ato Essien and two others who are standing trial over for alleged misappropriation of some GHc130M Liquidity Support to the Bank leading to its collapsed will face Judgement on November 17.
This was after the third accused person Rev. Fitzgerald Odonkor, the former Managing Director (MD) of the bank had closed his defense.
Mr. William Ato Essien the first accused person and Tettey Nettey, the second accused person had both closed their cases earlier in the trial that started about two years ago.
Justice Eric Kyei Baffour, a Justice of the Court of Appeal sitting with additional responsibility as a High Court judge fixed the date for judgement after the third accused person indicated the closure of his case.
“As third accused has closed his case there is no further evidence to lead. This criminal trial has closed,” Justice Eric Kyei Baffour stated.
“I order the prosecution and defence lawyers to file their respective written submissions in support of their case by the 17th October, 2022,” the court added.
“The court will adjourn for its judgement to 17 November, 2022 at 11am,” the judge stated.
Meanwhile, an attempt by lawyers of William Ato Essien to reopen his defence was turned down by the court after same was opposed to by the prosecution.
The prosecution has closed its case after calling 17 witnesses in the matter.
Essien is standing trial with the Managing Director (MD) of the defunct bank, Fitzgerald Odonkor, and the MD of MC Management Services, Tettey Nettey.
MC Management Services is said to be owned by Essien.
The accused persons have pleaded not guilty to a combined 23 charges of stealing, abetment to stealing, conspiracy to steal and money laundering. They are on bail.
They have been accused of engaging in various illegal acts that led to the dissipation of the GH¢620-million liquidity support given to Capital Bank by the BoG between June 2015 and November 2016.
There is a good reason why you should support the African Editors. Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read, including in Ghana. If this is you, please continue to read for free. But if you are able to, then there are three good reasons to support us today.
1. Our quality, journalism is a scrutinising force at a time when the rich and powerful are getting away with more and more.
2. We are independent and have no billionaire owner pulling the strings, so your money directly powers our reporting.
3. It doesn’t cost much, and takes less time than it took to read this message.
Help power the African Editors' journalism for the years to come, whether with a small sum or a larger one. If you can, please support us on a monthly basis from just $2 through mobile money number: 0599896099/ +233059989609 and you can be rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.