The trails of William Ato Essien, Founder of the defunct Capital Bank, and three other persons, who were charged for the collapse of Capital bank, has been adjourned to October 15 by an Accra High court.
During the last court appearance before the adjournment, on Thursday, Vish Ashiagbor, Director of Price Water House Coopers, who happens to be the first witness for the prosecution signed his witness statement to the court.
At the court, Thaddeus Sorey, counsel for the first accused persons commenced his cross examination which he wasn’t able to finish.
As a reminder, Ato Essien, Kate Quartey Papafio and Tetteh Nettey, passports were ceased by the court to stop them from traveling outside the country. But on Thursday, during the hearing, the judge ordered for the release of their passports so the three accused can take part in the ongoing voter registration exercise.
According to the court, they are to return their passports immediately they are done with their voter registration card.
Presently, the Founder of the defunct Capital Bank, Ato Essien is facing 26 counts of stealing and money laundering, conspiracy. The other three have been held for abatement of crime, but all of them have refused and denied the charges.
Before Thursday court hearing, sources reaching Ghana Africa News is that, Ato Essien was willing to refund all the money lost to the state but he was admitted to bail him with the other two in the sum of GH¢200 million each while Kate Quartey Papafio, was admitted to bail in the sum of GH¢75 million.
Background of Suspects
Fitzgerald Odonkor is the former Managing Director of Capital Bank, whiles Ato Essien is a majority Shareholder of Capital Bank Limited. For Tetteh Nettey, he is the Managing Director of MC Management Services, a company which was established by Essien. The fourth suspect, Kate Quartey Papafio, is a businesswoman and Chief Executive Officer of Reroy Cables Company Limited.
Drop your thoughts and let’s know what you think. Please don’t forget to click on the notification button to keep following Ghana Africa News for more updates and developments. Share to inform more people.