Dr. John Apea, Head of Mission for the Commonwealth Enterprise and Investment Council, has expressed concerns regarding William Ato Essien’s decision to plead guilty to charges related to the collapse of Capital Bank, deeming it a regrettable decision.
He asserted that new evidence he has personally seen and examined indicates Essien did not engage in any form of theft or wrongdoing as ascribed to him, and he hinted at plans to spearhead a formal petition for a presidential pardon for Essien.
Ato Essien, the former Chief Executive Officer of the now-defunct Capital Bank, was handed a 15-year prison sentence with hard labor after failing to fully repay an agreed GH¢90 million to the state, despite multiple opportunities since December 2022.
Essien had admitted guilt on 16 charges, including theft, money laundering, and conspiracy to steal, all related to the bank’s collapse.
However, Dr. Apea clarified at the press conference that his call was “not about politics but about providing information based on Human rights grounds and also based on the evidence he had received.”
In his view, “the issue is about a theft never happened adding that there was no theft and that Ghc90 million is extremely contentious…”
He explained that the liquidity support granted to the defunct bank was a commercial loan at 28% per annum, and until the bank was closed, “they were paying without default Ghc14.4 million every month.”
He revealed that GH¢308 million had been repaid out of the liquidity support loan before the bank’s closure.
Dr. Apea further elaborated on the GH¢27.5 million in question, stating that “Mr Ato Essien who was not the Managing Director of the Bank or part of management had signed a contract to receive a finders fee,” which he described as “like an agent fee of 3 to 4 percent of the value of the loan he had negotiated for the bank.”
He emphasised, “It wasn’t money he stole,” adding that the finder’s fee of GH¢27.5 million was “which he legally earned from this transaction where he organised a loan to be granted to Capital Bank.”
He also raised serious concerns over the acquittal and discharge of the then Managing Director of the bank, who reportedly paid the facilitators fee.
Dr. Apea opined that it was not sound for the third accused person who paid the GH¢27.5 million to be acquitted while Ato Essien was jailed for receiving that amount.
He stated, “Mr Ato Essien was charged jointly and severally with three other people. All three people were acquitted including the third accused who paid that Ghc27.5 million. He is the only one who is been languishing in prison, currently in a while chair in very bad health.”
Dr. Apea announced that his team will, in September this year, open a portal where anyone who feels have been wronged can submit their cases so the team of pro bono lawyers would work to exnorated and gift for them just like they are doing for Ato Essien.
By: Rainbowradioonline.com/Ghana
