Attorney and Minister for Justice Godfred Yeboah Dame has filed processes in court asking for the founder of the defunct Capital Bank, William Ato Essien to be jailed.
According to the Minister, the former bank owner has failed to make payments as part of his GH90 million reparation agreement.
Mr. Essien reached a deal in the case in which he was accused of stealing and money laundering for his role in the bank’s demise in 2022.
He was required to pay $90 million under the terms of the agreement. A third of the total was to be paid in advance, with the remaining 60 million to be paid in three instalments of $20 million each within a year of conviction.
The first instalment was due no later than April 28, 2023.
According to documents filed on behalf of the Attorney General, the first instalment of 20 million cedis has not been paid as of May 2, 2023.
The Minister added that this violates the court’s restrictions and puts him in jail.
“That having failed to fulfil a condition imposed on him by this Honourable Court under section 35 of the Courts Act, the outstanding amount under the agreement has become due and the respondent is liable to a custodial sentence by the four”.