GHC90m case: High Court rejects Ato Essien’s bail application pending 15-year jail term appeal

GHC90m case: Excessive Court docket rejects Ato Essien’s bail software pending 15-year jail time period attraction

The Accra Excessive Court docket has denied a bail software pending the attraction of the 15-year conviction of the founding father of the defunct Capital Financial institution, William Ato Essien.

The previous Managing Director of Capital Financial institution was sentenced for stealing over 90 million cedis belonging to the financial institution.

William Ato Essien was sentenced by the Accra Excessive Court docket in October 2023 after lacking a lifeline supplied to him to repay the state 90 million cedis, following a plea cut price granted by then-Legal professional Common, Godfred Yeboah Dame.

Per the phrases of the association, the founding father of Capital Financial institution, who had been charged with a number of counts of stealing and inflicting monetary loss to the state, was to pay the quantity in three tranches.

The fee plan comprised a fee earlier than April 28, 2023, the second fee on or earlier than August 31, 2023, and the final instalment on or earlier than December 15, 2023.

Ato Essien had paid GHC30 million out of the 90 million on December 1, 2022, however failed to finish the ultimate tranche of fee on or earlier than December 15, 2023.

The presiding choose within the matter, Justice Kyei Baffour, noticed that as of the day of sentencing, the Capital Financial institution MD had paid solely 7 million cedis out of a doable 40 million cedis.

He was subsequently sentenced to a jail time period of 15 years of onerous labour. Ato Essien has since appealed the sentence.

In courtroom on Friday, Might 16, his attorneys, led by Baffour Gyawu Bonsu Ashia, holding the transient for Thaddeus Sory, prayed for bail pending the attraction of his conviction.

The prosecution, led by State Legal professional Frederick Adu-Gyamfi, indicated that the Legal professional Common was not against the bail software.

In his ruling, nonetheless, Justice Emmanuel Lodoh, exercising his discretion, refused the appliance.

The submit GHC90m case: High Court rejects Ato Essien’s bail application pending 15-year jail term appeal first appeared on 3News.

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