The Court of Appeal has granted GH₵10 million bail, with two sureties, to William Ato Essien, former Managing Director and founder of the now-defunct Capital Bank, as he seeks to appeal his 15-year prison term for causing financial loss to the state.
Mr Essien was convicted in October 2023 after a restitution agreement collapsed due to non-payment of funds pledged towards the alleged misappropriation of GH¢90 million in Bank of Ghana liquidity support to Capital Bank.
Following his default on repayment obligations, the court sentenced him to serve 15 years in prison.
More soon…
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