William Ato Essien, the founder of the now-defunct Capital Bank, and two other defendants will be sentenced on November 17 for stealing around GHc130M in liquidity support from the bank, which caused it to fail.
This occurred during the closing of the defense for the third defendant, Rev. Fitzgerald Odonkor, a former managing director (MD) of the bank.
The first accused, Mr. William Ato Essien, and the second accused, Tettey Nettey, both closed their cases earlier in the trial, which began roughly two years ago.
After the third accused person signaled the conclusion of his case, Justice Eric Kyei Baffour, a Justice of the Court of Appeal sitting with added responsibilities as a High Court judge, set the date for judgment.
“There is no more evidence to lead as the third accused has concluded his case.
The judge concluded this criminal trial, Eric Kyei Baffour said.
The prosecution and defense attorneys must submit their written arguments in favor of their respective cases by October 17, 2022, the court said.
The judge announced, “The court will adjourn for its judgment to November 17, 2022 at 11am.”
Meanwhile, the court denied William Ato Essien’s lawyers’ request to reopen their case when the prosecution objected to it.
After presenting 17 witnesses, the prosecution has concluded its case.
Fitzgerald Odonkor, the former managing director of the bank, and Tettey Nettey, the managing director of MC Management Services, are also on trial with Essien.
It is alleged that Essien is the owner of MC Management Services. To a total of 23 charges of stealing, aiding stealing, conspiring to steal, and money laundering, the defendants have entered not guilty pleas.
They have a bond.
They are alleged to have committed a number of illicit activities that caused the BoG’s GH620 million liquidity support for Capital Bank between June 2015 and November 2016 to be lost. Source: Ghanatodayonline.com