The Court of Appeal has granted a GH₵10 million bail with two sureties to William Ato Essien, the former Chief Executive Officer and founder of the no
The Court of Appeal has granted a GH₵10 million bail with two sureties to William Ato Essien, the former Chief Executive Officer and founder of the now-defunct Capital Bank, as he contests a 15-year custodial sentence handed down in 2023 for causing financial loss to the state.
This latest development adds a new twist to a high-profile financial scandal that has been a focal point of Ghana’s judicial and political discourse since Capital Bank’s collapse in 2017.
Ato Essien had initially entered a plea bargain with the state, agreeing to refund GH₵90 million in liquidity support funds misappropriated from the Bank of Ghana.
However, after defaulting on the payment plan, the High Court in October 2023 sentenced him to prison for breach of the agreement.
Ato Essien’s legal team filed an appeal shortly after his incarceration, contending that the sentence was overly punitive and that he still intends to fulfill his restitution commitments.
The appeal, currently before the Court of Appeal, questions the High Court’s handling of the case, specifically its decision to enforce a custodial sentence without allowing for an alternative settlement.
While Essien awaits the outcome of the appeal, the bail decision has sparked renewed public debate over fairness in Ghana’s criminal justice system.
Critics argue that wealthy individuals, particularly those involved in white-collar crime, often benefit from leniency and preferential treatment—contrasted sharply by the experiences of underprivileged inmates, many of whom languish in prisons with little legal representation or access to medical care.
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