Capital Bank trial: Court rejects Ato Essien’s GH¢90m repayment deal with state prosecutors

The High Court presided over by Justice Eric Kyei Baffour has rejected a settlement deal between state prosecutors and embattled founder of now-defunct Capital Bank, Ato Essien.

Justice Eric Kyei Baffour, a Justice of Appeal, sitting as an additional High Court Judge, rejected the agreement, indicating that the amount agreed to be paid was not good enough, and adjourned the case to December 13 for the parties to address the court on the legal basis of the terms of the agreement.

“(1) Where a person is charged with an offence before the High Court or a Regional Tribunal, the commission of which has caused economic loss, harm or damage to the State or any State agency, the accused may inform the prosecutor whether the accused admits the offence and is willing to offer compensation or make restitution and reparation for the loss, harm or damage caused.”

(1) Where a person is charged with an offence before the High Court or a Regional Tribunal, the commission of which has caused economic loss, harm or damage to the State or any State agency, the accused may inform the prosecutor whether the accused admits the offence and is willing to offer compensation or make restitution and reparation for the loss, harm or damage caused. 

(3) If the offer is not acceptable to the prosecution the case before the Court shall proceed. 

(4) If the offer is acceptable to the prosecution, the prosecutor shall in the presence of the accused, inform the Court which shall consider if the offer of compensation or restitution and reparation is satisfactory. 

(5) Where the Court considers the offer to be satisfactory, the Court shall accept a plea of guilty from the accused and convict the accused on his own plea, and in lieu of passing sentence on the accused, make an order for the accused to pay compensation or make restitution and reparation.