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Ato Essien presents 2nd proposal for refund of state cash.

An Accra Commercial High Court, presided over by Justice Eric Kyei Baffour, has upheld a prayer by the Attorney General's (G-A) Department for an extension of time to deliberate on a proposal made by William Ato Essien, Founder of the defunct Capital Bank.

The proposal and negotiation are in respect of some charges the state has levelled against Ato Essien in a criminal trial.

The A-G's Principal State Attorney, Marina Appiah Opare, pleaded with the Court of Appeal Justice, sitting as additional judge of the lower court, to grant them the opportunity to enable the two sides to negotiate.

Madam Opare informed the court yesterday, that the proposal of Ato Essien, first accused person (A1), is a second leg of negotiations in respect of counts 13, 16 and 19, after the first one failed. These charges are in respect of stealing in amount of GHS27.5 million.

She said the first proposal was rejected on the grounds that it was found to be unacceptable to the state, saying, 'currently, we have received another proposal, which we have responded to, but counsel for A2 (Tetteh Nettey) is yet to receive.'

The Principal State Attorney, therefore, prayed the court to adjourn the case in order to enable them continue with the negotiations.

She, however, stated that if they are unable to reach a consensus the trial should proceed.

The court held that the plea from both the prosecution and defence counsel for the first accused person and placed on record that irrespective of the outcome of negotiations as proposed, the trial would proceed.

The case was, therefore, adjourned to July 9th 2020.


Ato Essien is standing trial with Tetteh Nettey (A2), Fitzgerald Odonkor, and Kate Quartey-Papafio on 26 charges of allegations of collapsing Capital Bank by engaging in various acts of illegalities.

Their actions had led the state to lose GHS620 million liquidity support from the Bank of Ghana.

In this regard, Ato Essien has offered to refund GHS27.5 million which the prosecution accused Essien of carrying in jute bags and distributing to some individuals for business promotion purposes.

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Publication:Ghanaian Chronicle (Accra, Ghana)
Date:Jun 25, 2020
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