William Ato Essien, the founder of the now-defunct Capital Bank, has been sentenced to 15 years in prison for his involvement in the bank’s collapse.
Although he agreed to refund the state GHC90 million, he was only able to return GHC37 million, which led to the imposition of the custodial sentence.
Essien was sentenced to a total of 95 years in prison for multiple counts of stealing and money laundering, but these sentences will run concurrently, meaning he will serve 15 years.
We will share more information as it becomes available.