Ato Essien, others plead not guilty in court

Founder of defunct Capital Bank, William Ato Essien and three others, have pleaded not guilty to 26 charges levelled against them by the state.

Mr Essein, Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio pleaded not guilty to charges which included conspiracy to steal and money laundering.

The charges against Ato Essien and Tetteh Nettey are accused of conspiracy to steal an amount of GH¢100, 000 between October and November 2015 and money laundering.

The Bank of Ghana on Monday, August 14, 2017 revoked the licenses of UT and Capital banks due to their insolvency, leading to a seamless takeover of the two banks by GCB Bank.

Five other banks have since been taken over by the state over insolvency and improper management. Read Full Story