By; Beatrice Oppon
The High Court in Accra has given another lifeline to convicted Founder of defunct Capital Bank, William Ato Essien to redeem an outstanding twelve million cedis to the State by July 27, 2023.
Eric Kyei Baffour said the convict has only made two million cedis payment since May 17, 2022 when the Court adjourned to July 4, 2023.
Mr Essien was convicted in December 2022 on sixteen counts of conspiracy, stealing and money laundering.
He agreed on a settlement with the State and the Court ordered him to make a restitution and reparation of 60 million cedis in three installments within one year with April 28, 2023 as deadline for the first payment. He has since paid eight million cedis out of the 20 million cedis.
Following Mr Ato Essien’s failure to pay in full the 20 million cedis as ordered by the Court, the Attorney-General filed a motion praying the Court to impose a custodial sentence on him.
Justice Kyei Baffour said based on a plea by Counsel for the convict Baffour Gyau Bonsu Ashia for more time, he would reluctantly give him one more opportunity to pay the 12 million cedis by the next adjourned date which is July 27, 2023.
The Court held that if the money is redeemed by then, it may favourably consider the next payment plan. Justice Kyei Baffour said he has no pleasure committing Mr Essien to jail but would be compelled to apply the law.
The Defence Counsel argued that confiscation of the convict’s passport has become an economic challenge because it has hindered his movement. He therefore pleaded with the Court to allow him file a motion to have the passport released to the convict.
The Court however said it is a criminal matter and there is no guarantee that the convict will return to the jurisdiction if his passport is released to him and allowed to travel.
Justice Kyei Baffour said another lawyer has written to the Registrar of the Court informing him that a property at Prampram in the, Greater Accra Region belonging to Mr. Essien which has been deposed to has also been liquidated to settle monies in another case.
Deputy Attorney General Alfred Tuah-Yeboah said the “State will oppose any attempt by the Defence to have the convict’s passport released to him”.
