Ghanatodayonline.com News, Politics, Health, Education & More
The founder of the defunct Capital Bank, William Ato Essien, who was convicted of the crime, has been given at least until July 27 to redeem his first instalment of GHc20 million from the State.
On Tuesday, July 4, it was revealed in court that Mr. Ato Essien had paid GH8,000,000 of the GH20,000,000 thus far, leaving a GH12,000,000 amount due.
Essien entered into a contract with the state last year in accordance with section 35 of the Courts Act, and was required to pay the state GHc60 million in three GHc20 million installments.
Nevertheless, according to statistics, as of today, July 4, he has only paid GHc8 million since the first instalment’s due date on April 28.
Justice Erich Kyei Baffour, a Justice of the Court of Appeal sitting as a second High Court judge, asks for more time from his attorneys, who are represented by Baffour Gyau Bonsu Ashia.
Despite missing the deadline, the prosecution, which was being led by Deputy Attorney General Alfred Tuah Yeboah, questioned how much more time he wished to pay.
After hearing from the parties, Justice Kyei Baffour urged Ato Essien to pay at least the remaining GHc12 million by July 27.
If he doesn’t, the court stated it will impose the sanctions.
“The convict Ato Essien has only made GHc2 million payment since the last adjournment leaving an amount of GHc12 million that should have been redeemed at least by today July 4.
“Based on the pleas of his counsel, I once again reluctantly give the convict one more opportunity to make payment.
“I will adjourn to July 27, 2023, for the amount of GHc12m to be paid by the convict,” Justice Eric Kyei Baffour said.
The court denied his attorney’s plea to advance a Viva Voce argument to have his passport, which is in the court’s possession, released so he may start a business to raise money.
Source: Ghanatodayonline.com
