Capital bank collapse: 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.

Ato Essien was charged with 26 offences by the state, leading to the collapse of bank in 2017.

The charges include conspiracy to steal an amount of GH¢100,000 between October and November 2015 and money laundering.

Charged along with three others including Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio who were all executives of the bank, Mr. Essien appeared before the court Tuesday October 15 to respond to the charges.

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. Read Full Story