The Court of Appeal has granted bail to William Ato Essien, former Managing Director and founder of the defunct Capital Bank, as he challenges his 15-year sentence for causing financial loss to the state. He was released on GH¢10 million bail with two sureties.
Essien was sentenced in October 2023 after defaulting on a restitution agreement related to the misappropriation of over GH¢90 million in Bank of Ghana liquidity support. His legal team is now pursuing an appeal to overturn the custodial sentence.
His bail comes amidst public appeals for clemency on health grounds. Dr. John Apea, Head of Missions at the Commonwealth Enterprise and Investment Council, revealed in a public discussion that Essien is wheelchair-bound due to a spinal injury sustained in custody.
According to Dr. Apea, Essien’s health has deteriorated significantly and he is not receiving adequate medical attention in prison. “Do we leave him there? Is that rehabilitation, or is that a death penalty?” he questioned, calling for urgent humanitarian consideration.
The development has reignited debate about equal justice and medical treatment for convicts in Ghana’s prisons, particularly for high-profile offenders with critical conditions.
Background:
The Accra High Court in October 2023 sentenced Ato Essien to 15 years imprisonment after he failed to fulfill a court-approved agreement to pay GH¢90 million in restitution. Under the deal, he had already paid GH¢30 million and was required to pay the remaining GH¢60 million in instalments.
However, as of the court’s ruling, Essien had only managed to pay an additional GH¢7 million out of the expected GH¢40 million due by August 2023. This brought the total to GH¢37 million, falling short of his obligations.
Justice Eric Kyei Baffour ruled that while Essien would serve his sentence, he could still regain his freedom if he managed to settle the outstanding GH¢53 million restitution to the state.
