William Ato Essien, the founder of the now-defunct Capital Bank, has been sentenced to 15 years in prison by the Accra High Court. He was found guilty of embezzling more than GH₵90 million that belonged to the bank.

According to the agreement, Essien must repay the GH₵90 million to the state as compensation.
In a recent decision, Justice Eric Kyei Baffour’s court stated that Essien did not comply with the agreed terms with the A-G by not making the required restitution to the state.
The agreement was made in accordance with Section 35 of the Courts Act, 1993 (Act 459), which permits individuals on trial for causing monetary harm to the government to make a payment and potentially prevent imprisonment.

The first portion should be paid by April 28, 2023, the second by August 31, 2023, and the final portion by December 15, 2023.
Moreover, he has missed the payment deadlines for April 28 and August 31, resulting in a total payment of GH₵37 million out of the expected GH₵90 million.