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Ato Essien Pays GH¢4m to State As AG Readies Motion for Conviction – Report



William Ato Essien, Chief Executive Officer of defunct Capital Bank, has taken steps to avoid a custodial sentence over failure to pay a GH¢20 million to the state per agreed timelines following a plea bargain agreement.

The Daily Guide newspaper reports on its frontpage of May 11, 2023 that Essien has made a payment of GH¢4 million to the state. The amount is 20% of the agreed sum.

The Attorney-General, a week ago, filed a motion praying an Accra High Court to impose a custodial sentence on Essien for failing to pay GH¢20 million to the state.

The court fixed May 11, 2023, for the Attorney General to move the motion, but the payment means Essien would likely escape jail for the time being.

The former banker was in December 2023 ordered by an Accra High Court presided over Justice Eric Kyei Baffour to pay GH¢20 million to the state by April 28, 2023.

Essien narrowly escaped a custodial sentence after his lawyers had agreed with the Office of the Attorney General to pay GH¢60 million in three installments.

He had earlier on paid GH¢30 million out of GH¢90million while the trial was ongoing.

The AG’s move was ocassioned by the fact that Essien’s deadline to remit GH¢20 million to the state by April 28 had elapsed with no evidence of him having done so.

The AG had written to the Controller and Accountant General to find out if Essien had made any payment following the court order.

Response from the Controller and Accountant General showed that Essien had not made any payment.

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