Jail Ato Essien for breaching restitution deal - AG to court

The Attorney-General has filed an application, asking the High Court to impose custodial sentence on the founder of defunct Capital Bank, William Ato Essien.

Mr Essien, who was standing trial with two others for stealing depositors' funds after the collapse of his bank, had reached an agreement with the AG’s department in December 2022, to pay an amount of Ghc 90 million as restitution to the state, under section 35 of the Courts Act, 1993 (Act 459). 

However, in an application filed today, May 2, 2023 by the Attorney-General, it stated that checks at the Controller and Accountant General’s Department showed that Mr. Essien had failed to make payment for the first installment of Ghc 20 million of the outstanding amount of Ghc 60 million on his restitution deal. 

Under the agreement that was reached in 2022, Ato Essien was to pay GHc 30 million in advance (on or before the time of his conviction) and the remaining GHc 60 million to be paid in three installments of Ghc 20 million within 1 year. 

The first installment of the outstanding Ghc 60 million was due on April 28, 2023, which according to the AG, Mr. Essien had failed to honour. 

"That having failed to fulfill a condition imposed by him on this Honourable Court, under section 35 of the Courts Act, the outstanding amount under the agreement has become due and the respondent is liable to a custodial sentence by the Court.

Wherefore I swear to this affidavit, praying for an order imposing custodial sentence on the respondent," the AG said in its affidavit in support of the application.