Ato Essien, 3 others charged over collapse of Capital Bank

Ato Essien, 3 others charged over collapse of Capital Bank

- The state has charged founder of defunct Capital Bank, William Ato Essien over collapse of Capital bank

- He together with three others who played various roles at the Bank during its operational period, were included in a charge sheet presented to an Accra High Court

- The charges leveled against all four of them included multiple counts of conspiracy to steal, abetment of crime, stealing, and money laundering

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Government has charged founder of defunct Capital Bank, William Ato Essien, together with three others with 26 offenses leading to the collapse of Capital Bank in 2017.

Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio who played various roles at the Bank during its operational period, were included in a charge sheet presented to an Accra High Court.

The charges leveled against all four of them included multiple counts of conspiracy to steal, abetment of crime, stealing, and money laundering.

READ ALSO: Dr. Dominic Kwame Obeng Andoh of Obengfo fame discharged

This action is the first by the state in the aftermath of the collapse of some nine banks by the central bank over their inability to meet a number of regulatory requirements.

Capital Bank and UT Bank were the first to have lost their universal banking licenses when they were taken over by GCB Bank.

According to the central bank, GCB Bank only took over the good assets of the two banks while a receiver, Vish Ashiagbor of the PwC, was appointed to recover other assets of the two banks that may not be immediately available.

READ ALSO: Kofi Mole flaunts his handsome son for the first time

In other news, the embattled medical doctor and owner of the Obengfo Hospital in Accra, Dr Dominic Kwame Obeng-Andoh has been set free by the Accra Circuit Court IV.

The court acquitted the doctor on charges of being an unregistered practitioner and operating an unlicensed health facility.

According to the presiding judge, Mr Emmanuel Essandoh, the court did not find the accused culpable because of the way the charges were framed by the prosecution.

READ ALSO: Sex for Grades: UG invites past and present students to testify

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