The Court of Appeal has granted GH₵10 million bail, with two sureties, to William Ato Essien, former Managing Director and founder of the now-defunct Capital Bank, as he seeks to appeal his 15-year prison term for causing financial loss to the state.
Mr Essien was convicted in October 2023 after a restitution agreement collapsed due to non-payment of funds pledged towards the alleged misappropriation of GH¢90 million in Bank of Ghana liquidity support to Capital Bank.
Following his default on repayment obligations, the court sentenced him to serve 15 years.
Today's decision comes on the back of a campaign by a section of Ghanaians, including an online petition to the President for clemency on health grounds.
