Capital bank collapse: Ato Essien, others plead not guilty in court

Founder of defunct Capital Bank, William Ato Essien and three others, have pleaded not guilty to 26 charges levelled against them by the state in relation to the collapse of Capital Bank.

Mr Essein, Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio pleaded not guilty to charges which included conspiracy to steal and money laundering.



Ato Essien and Tetteh Nettey are accused of conspiracy to steal an amount of GH¢100,000 between October and November 2015 and money laundering.

The Bank of Ghana on Monday, August 14, 2017, revoked the licenses of Capital bank due to its insolvency, leading to a seamless takeover of the bank and one other, UT bank, by GCB Bank.

Five other banks have since been taken over by the state over insolvency and improper management.

Source: www.ghanaweb.com