- The founder of the now-defunct Capital Bank, William Ato Essien, received a 15-year prison sentence for embezzling more than GH¢90 million.
- Since then, he has returned a portion of the money and has left with GH¢53 million remaining, which he needs to reimburse the state for.
- According to a ruling by Justice Eric Kyei Baffour, Essien might have his freedom back provided he settles the remaining balance.
- Essien and the Attorney-General (A-G) came to a deal wherein Essien would pay the state GH₵90 million in reparation. The court recognized this accord.
- Essien was directed to pay the remaining GH₵60 million in three installments after paying GH₵30 million of the total on December 1, 2022.
- Judge Kyei Baffour, however, said that Essien had only paid GH₵7 million of the GH¢40 million that might have been paid, missing this year’s deadlines of April 28 and August 31.
- Out of the GH₵90 million total, GH₵37 million has been paid to the state thus far.
- According to Justice Baffour’s ruling, Essien can have his freedom back provided he pays the remaining GH₵53 million that the state requires him to pay in compensation and restitution.
- The founder of the now-defunct Capital Bank, William Ato Essien, received a 15-year prison sentence for embezzling more than GH¢90 million.
- Since then, he has returned a portion of the money and has left with GH¢53 million remaining, which he needs to reimburse the state for.
- According to a ruling by Justice Eric Kyei Baffour, Essien might have his freedom back provided he settles the remaining balance.
- Essien and the Attorney-General (A-G) came to a deal wherein Essien would pay the state GH₵90 million in reparation. The court recognized this accord.
- Essien was directed to pay the remaining GH₵60 million in three installments after paying GH₵30 million of the total on December 1, 2022.
- Judge Kyei Baffour, however, said that Essien had only paid GH₵7 million of the GH¢40 million that might have been paid, missing this year’s deadlines of April 28 and August 31.
- Out of the GH₵90 million total, GH₵37 million has been paid to the state thus far.
- According to Justice Baffour’s ruling, Essien can have his freedom back provided he pays the remaining GH₵53 million that the state requires him to pay in compensation and restitution.
