The founder of the now-defunct Capital Bank, William Ato Essien, has been handed a 15-year prison sentence by the Accra High Court.
This comes after he was found guilty of stealing over GHC90 million from the bank. In December of the previous year, Essien was convicted for embezzling the said amount from Capital Bank.
However, he had the opportunity to avoid jail time by agreeing to pay the full GHC90 million as restitution to the state.
Unfortunately, Essien has failed to fulfill the terms of the agreement with the Attorney-General regarding the payment of restitution. Despite initially paying GHC30 million, he has only paid a total of GHC37 million to date, missing the payment deadlines for April 28 and August 31.
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