HomeBusinessCapital Bank trial adjourned to July 29

Capital Bank trial adjourned to July 29

Founder of defunct Capital Bank, William Ato Essien
Founder of defunct Capital Bank, William Ato Essien

The Commercial Division of the Accra High Court has adjourned to July 29, 2021, the trial of the Founder of the defunct Capital Bank, William Ato Essien, and two others accused of stealing depositors’ funds leading to the collapse of the bank.

The two others are Fitzgerald Odonkor, the Managing Director of the bank, and Tettey Nettey, the Managing Director of MC Management Services, a company said to be owned by Mr Essien.

They have been accused of conniving and stealing GH¢620 million liquidity support given to the defunct Capital Bank by the Bank of Ghana (BoG).

They were expected to open their defence today (July 22) at the court presided over by Justice Kyei Baffour.

However, when the case was called, counsel for Mr Essien informed the court that he had filed a motion for stay of proceedings to be moved on July 29.

Consequently, Justice Kyei Baffour adjourned the case, adding: “By court, in view of the motion filed by counsel for A1, for stay of proceedings this morning and slated to be moved on the 29th of July 2021, I will adjourn the suit to the said date, I accordingly adjourn it.”

Details of the motion were not made available in open court.

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