Trial involving Ato Essien, three others adjourned to October 15



An Accra High Court has adjourned the case involving Founder of the defunct Capital Bank, William Ato Essien to October 15, who is on trial with three others for allegedly collapsing the bank.

At the last hearing on Thursday the prosecution presented its first witness, the Director of Price Water House Coopers, Vish Ashiagbor, who presented his signed witness statement.

Afterwards the counsel for the first accused persons, Thaddeus Sorey begun cross examination.

The court also ordered for the release of passports of Ato Essien, Kate Quartey Papafio and Tetteh Nettey to enable them to register for their voter identification cards but were to return same later to the court, when completed.

Ato Essien is facing 26 counts of conspiracy, stealing and money laundering, while the rest are variously being held for abetment of crime. They have denied the charges.

Ato Essien is a Majority Shareholder of Capital Bank Limited, Tetteh Nettey, Managing Director of MC Management Services, a company established by Essien, and Fitzgerald Odonkor, a former Managing Director of Capital Bank.

They were admitted to bail in the sum of GH¢200 million each while Kate Quartey Papafio, a businesswoman and Chief Executive Officer of Reroy Cables Company Limited, was admitted to bail in the sum of GH¢75 million.

The four accused persons are to provide four sureties each who are of good character and of substance.