The High Court has rejected a plan by Founder of defunct Capital Bank, William Ato Essien to pay GHS90million.
Defense counsel for Mr Essien and the state prosecution had informed the trial judge that the accused person had agreed to pay GHC90m as restitution to the state, TV3’s Laud Adu Asare who was in court reported.
This was just when the judge Justice Eric Kyei Baffour was about to deliver his judgement on the matter on Thursday December 1.
He noted that he was in disagreement with the terms of settlement since the value of the money cannot be the same.
He adjourned the case, ordering both parties to revise the agreement to match the cedi’s worth as of 2022.
Mr Ato Essien and two others were accused of siphoning liquidity support of ¢620 million bailouts given by the Bank of Ghana (BoG).
According to the prosecution, the accused persons opened various bank accounts with Capital Bank through which the ¢620 millionliquidity support was transferred while others were carried in jute bags to Ato Essien.
They pleaded not guilty to the charges.