The outgoing president, Nana Akufo-Addo, has granted a presidential pardon to William Ato Essien and 10 other convicted individuals.
Mr Ato Essien, the founder of the defunct Capital Bank, was sentenced to 15 years in prison by an Accra High Court in October 2023.
He was convicted of embezzling over GH¢90 million of the Bank of Ghana's liquidity support allocated to the now-defunct financial institution.
This decision follows his failure to fully repay the stated amount to the State, despite having agreed to do so and being afforded the opportunity.