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Capital Bank collapse: High Court grants Ato Essien GHc200m bail

An Accra High Court has granted bail in the sum of GHc200 million to the founder of defunct Capital Bank, Ato Essien in the ongoing trial relating to the collapse of the bank.

The court also asked for four sureties of which the persons standing in should be of good standing in society.

The same bail condition was granted to former MD of the bank, Fitzgerald Odonkor and CEO of Capital Bank, Tettey Nettey.

The fourth accused person, CEO of Reroy Cables, Kate Quartey-Papafio was also granted bail of GHc75 million with two sureties.

The Judge, Justice Kyei Baffour also ordered the prosecution to give all documents and records they will rely on as evidence to lawyers of the accused persons.

The four accused persons are facing 27 counts of charges which include stealing, money laundering and abetment to steal.

The amount according to the Attorney General which has been stolen is GHc620 million and is said to have been given to Capital bank as liquidity support.

The case has been adjourned to 18th November 2019.

The accused persons have since pleaded not guilty to all charges.

 

Source:citinewsroom

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