An exclusive financial autopsy report into the collapse of Capital Bank has revealed its majority shareholder, Ato Essien used ¢80m of depositors and public funds for his personal piggy bank.
The exclusive report to Joy News shows Mr Ato Essien who founded the bank, “flouted all banking and risk management rules” in the management of monies saved there by its customers.
The businessman personally invested these monies into businesses in breach of standard corporate governance practices.
Source:Myjoyonline