Ato Essien Faces Jail Time As A-G Files Motion Over Failure To Pay Restitution

The Attorney-General (A-G) has filed a motion at the Accra High Court seeking the imprisonment of William Ato Essien, the founder of the defunct Capital Bank.

The motion comes after Mr Essien failed to pay GH¢20 million out of a GH¢60million restitution to the state by April 28 as part of an agreement that prevented him from going to prison.

Essien had been found guilty of stealing over GH¢90m of depositors’ funds after he pleaded guilty to 16 counts of stealing and money laundering.

According to the motion filed by a Chief State Attorney, Evelyn Keelson, the A-G checked the Controller and Accountant-General Department and found that Essien had not paid the GH¢20m as of last Friday, April 28.

The A-G contends that Essien’s failure to pay the money violates the court’s orders issued on December 13, 2022.

The motion filed by the A-G states, “Having failed to fulfil a condition imposed on him by this court under Section 35 of the Courts Act, the outstanding amount has become due, and the respondent is liable to a custodial sentence by the court”.

The agreement under Section 35 allows accused persons standing trial for causing financial loss to the state to pay the money and possibly avoid a custodial sentence.

Essien has already paid GH¢30 million and was to pay the remaining GH¢60 million in three instalments of GH¢20 million by the close of next year.