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Capital Bank collapse: Ato Essien, 2 others face judgement on November 17

William Ato Essien And Fitzgerald Odonkor.png Founder of Capital Bank, William Ato Essien and MD of the bank Rev. Fitzgerald Odonkor

Fri, 29 Jul 2022 Source:

The founder of the defunct Capital Bank, William Ato Essien, and two others who are standing trial over the misappropriation of some GHc130M Liquidity Support to the Bank leading to its collapse will face Judgement on November 17.

This was after the third accused person Rev. Fitzgerald Odonkor, the former Managing Director (MD) of the Bank, had closed his defence.

William Ato Essien, the first accused person, and Tettey Nettey, the second accused person, had both closed their cases earlier in the trial that started about two years ago.

Justice Eric Kyei Baffour, a Justice of the Court of Appeal sitting with additional responsibility as a High Court judge, fixed the date for judgement after the third accused person indicated the closure of his case.

“As the third accused has closed his case there is no further evidence to lead. This criminal trial has closed,” Justice Eric Kyei Baffour stated.

“I order the prosecution and defence lawyers to file their respective written submissions in support of their case by the October 17 2022,” the court added.

“The court will adjourn for its judgement to November 17 2022, at 11 am,” the Judge stated.

Meanwhile, an attempt by lawyers of William Ato Essien to reopen his defence was turned down by the court after the same was opposed by the prosecution.

The prosecution has closed its case after calling 17 witnesses in the matter.


Essien is standing trial with the Managing Director (MD) of the defunct Bank, Fitzgerald Odonkor, and the MD of MC Management Services, Tettey Nettey.

MC Management Services is said to be owned by Essien.

The accused persons have pleaded not guilty to a combined 23 charges of stealing, abetment to stealing, conspiracy to steal, and money laundering. They are on bail.

They have been accused of engaging in various illegal acts that led to the dissipation of the GH¢620-million liquidity support given to Capital Bank by the BoG between June 2015 and November 2016.

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