The Head of Mission for the Commonwealth Enterprise and Investment Council, Dr John Apea, has issued a disclaimer explaining that his appeal for clemency for William Ato Essien, the founder of Capital Bank who is currently serving a jail term over theft, money laundering, and other offences, does not reflect the position of the Commonwealth.
Speaking in an interview on Frontline on Rainbow Radio 87.5FM, he stated that his appeal is based on personal conviction and the evidence he had examined.
He explained that Ato Essien has become a scapegoat in the entire incident, underscoring the need for him to be granted a pardon, especially as he is currently incapacitated and confined to a wheelchair.
Dr Apea refuted claims that Ato Essien engaged in theft, money laundering, or other criminal charges filed against him.
He told host Kwabena Agyapong that the GH¢90 million in question was not stolen but was part of a liquidity support loan provided by the Bank of Ghana to Capital Bank, not a bailout or grant. “It, therefore, makes no sense for him to be charged for theft. The Ghanaian public was misinformed about this. There was no theft in the case for which Ato Essien is currently serving a prison sentence.”
“I want to, however, issue this disclaimer that my position does not reflect that of the Commonwealth. It is my personal opinion based on the evidence I have seen and examined. Capital Bank had been repaying GH¢14.4 million monthly without default and had already repaid GH¢308 million before the bank’s closure.
The money was a commercial loan at 28% per annum. And until Capital Bank was closed, they were paying GH¢14.4 million every month without default,” he stressed.
He further explained that Ato Essien received a finder’s fee of GH¢27.5 million, which is not illegal, considering that it is a common practice among intermediaries in such transactions.
Dr Apea also raised concerns over the legal consistency of the ruling, stating that the then-Managing Director of Capital Bank, who was accused of authorising the GH¢27.5 million payment, was acquitted, yet Essien was convicted for a legal fee for the work he did.
He also refuted claims that Ato Essien had asked him to lead this charge for him.
“I want to be clear: Ato Essien hasn’t asked me to do this. I’m speaking out based solely on the compelling evidence I’ve seen. Like many, I initially believed he was guilty of wrongdoing. Some have even questioned why I’m not advocating for others wrongly accused and imprisoned. My answer is simple: we will support others facing similar injustices, but right now, Ato Essien’s case demands our attention.
Having meticulously reviewed the evidence, I can state unequivocally that he committed no wrong. His imprisonment is a grave miscarriage of justice and deeply unfortunate. When someone breaks the law, they should face prosecution and sentencing. But when the evidence clearly proves innocence, yet that individual remains incarcerated, it is our duty to stand up, demand their release, and correct that profound wrong.”
By: Rainbowradioonline.com/Ghana
