April 16, 2021
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Ato Essien, three others charged over Capital Bank collapse

The former Chief Executive Officer and Managing Director of the defunct Capital Bank, William Ato Essien has been charged over the collapse of the bank.

Ato Essien, alongside Fitzgerald Odonkor, Kate Quartey-Papafio and Tetteh Nettey, who were all executives of the bank, have been hit with 26 charges by the state.

The state have accused Ato Essien and Tetteh Nettey of “conspiracy to steal contrary to sections 23 (1) and 124 (1) of the Criminal Offences Act, 1960 (Act 29).”

“William Ato Essien and Tetteh Nettey between October and November 2015 in Accra in the Greater Accra Region agreed to act together with a common purpose to steal the sum of GHc100,000,000,” the charge sheet filed at the Accra High Court on Tuesday, October 8, 2019 stated.

The Bank of Ghana in August 2017 revoked the licence of Capital bank due to its insolvency, leading to the takeover of the bank by GCB Bank.

Capital Bank was said to be owing GH₵468 million, which was said to have arisen due to negligence from the Board

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Ato Essien, three others charged over Capital Bank collapse

The former Chief Executive Officer and Managing Director of the defunct Capital Bank, William Ato Essien has been charged over the collapse of the bank.

Ato Essien, alongside Fitzgerald Odonkor, Kate Quartey-Papafio and Tetteh Nettey, who were all executives of the bank, have been hit with 26 charges by the state.

The state have accused Ato Essien and Tetteh Nettey of “conspiracy to steal contrary to sections 23 (1) and 124 (1) of the Criminal Offences Act, 1960 (Act 29).”

“William Ato Essien and Tetteh Nettey between October and November 2015 in Accra in the Greater Accra Region agreed to act together with a common purpose to steal the sum of GHc100,000,000,” the charge sheet filed at the Accra High Court on Tuesday, October 8, 2019 stated.

The Bank of Ghana in August 2017 revoked the licence of Capital bank due to its insolvency, leading to the takeover of the bank by GCB Bank.

Capital Bank was said to be owing GH₵468 million, which was said to have arisen due to negligence from the Board

384
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