Court gives Ato Essien July 4 to pay outstanding part of GH¢60m

An Accra High Court has given convicted William Ato Essien up to July 4, 2023, to pay outstanding money owed the State as per the agreement with the Republic.

Justice Eric Kyei Baffour, a Court of Appeal Judge, sitting as an additional High Court Judge said, “I will hasten slowly and adjourn the application to July 4, 2023.”

He said: “If indeed you need your freedom, you should honour the agreement before July 4.”

The founder of the defunct Capital Bank was on December 13, last year, convicted and ordered to pay GH¢60 million to the State after entering into agreement with the State under Section 35 of the Court’s Act 1993, Act 459.

Having failed to fulfill the orders of the Court to pay the first installment of GH¢20 million by the April 28 deadline, the State filed a motion for the Court to impose a custodial sentence on him.

The judge said, he had taken notice that the convict had taken steps to liquidate some assets in Essien’s Swiss international holdings for, which he was the sole shareholder and was expecting huge sums of monies as he had indicated in the affidavit in opposition for, which he had deposed to.

He said if indeed the depositions in the affidavit had been made bona fide, time would vindicate that.

Justice Kyei Baffour said he wanted to give the convict a lifeline and expressed the hope that he would do his best and recover the money for the State.

Source: GNA