A financial consultant and a former lecturer at the Ghana Banking College, Dr. Richmond Attuahene has disclosed that 47 more Directors of the collapsed financial institutions would be arraigned before court.
According to him, apart from the four (4) that have been put before the court and granted bail, others are in line to also appear before the court to face charges of various financial malpractices.
Speaking on Okay FM’s 'Ade Akye Abia' program, he explained those other Directors which include; Dr. Paa Kwesi Nduom and Pastor Mensa Otabil are all expected to appear before the court.
"The government has assured us of putting all the Directors before the court to be able to retrieve customers' funds and also be able to safeguard funds of government that were wrongly invested by these Directors, so we are waiting for the appropriate action to be taken," he said.
He also charged the government to arrest Dr. Paa Kwesi Nduom if acts of money laundering is found in his line of business.
William Ato Essien, Founder of the defunct Capital Bank, and three others whose roles allegedly led to the collapse of the bank have been admitted to bail by the Commercial Court (High Court Division).
Ato Essien, who is also 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, were admitted to bail in the sum of 200-million cedis each while Kate Quartey Papafio, a businesswoman and Chief Executive officer of Reroy Cables Company Limited, was admitted to bail in the sum of 75 million cedis.
The four accused persons are to provide four sureties each of who are of good character and are of substance.
The Court presided over by Mr. Justice Eric Kyei Baffour, further ordered them to deposit their passports to the Registry.
It further directed the prosecution to furnish all the accused persons with the necessary documents, audios or video recordings that they intend to rely on during the trial.
According to the Court, the State is to comply with the orders by November 13 and adjourned the case to November 20.
Ato Essien is facing 26 counts of conspiracy, stealing and money laundering.
Watch interview below
Source: Isaac Kwame Owusu/Peacefmonline.com/[email protected]
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Did the banks collapse or government shut them down?
There should be no back-door deal for anyone found culpable of this mess that sent some people to their early graves. So much criminality went on and these crooks were just using depositers' money as though that was an extension of their personal purse! But the root cause of all these are those officials at BOG who took bribes and allowed these things to happen. All of them must be sacked and prosecuted!
NOW CANT TALK AGAIN,UPON THE SEVERAL CORRUPTION ALLEGATION.YOUR PEOPLE U CLAIM TO BE GOOD ARE NOW DOING U THIS.THIS MAN WAS ALWAYS ON MAHAMA,NOW THE SEVERAL ALLEGATION AGAINST THE CURRENT GOVT. HE IS SILENCE BCOS HE HAS ALSO BEEN IMPLICATED
IF EVEN JESUS CHRIST HIMSELF WERE TO BE IN GHANA THERE WILL BE NO WAY THIS MAN MENSAH OTABIL WOULD GO FREE. YOU (MENSAH OTABIL) PRESIDE OVER ROT AND BENEFIT FROM THE ROT AND ALLOW FAMILIES AND YOUNG ONES (CHILDREN) TO GO HUNGRY AND "TATTERED" WHILE YOU HIDE UNDER THE COVER OF THE WORD OF GOD, THE BIBLE AND ENJOY YOUR BOOTY AND FREEDOM. NO WAY AND GOD FORBID IT.
flimsy, shambolic and unsustainable charges will be placed before the court to deliberately evade conviction. Thus, legal luminaries must open their eyes and challenge porous charges to redirect our justice system.
Good news. It must be expedited.
When? What is good for the goose is good for the gander. Before you say jack election is over.