Pulse.com.gh logo
Go


Collapsed Bank It’s ‘incorrect’ to implicate me in Capital Bank collapse – Ato Essien

Ato Essien, who was the majority shareholder in the bank, said the matter is still being investigated by Economic and Organized Crime Organization (EOCO) and that he has not been found guilty of anything.

  • Published:
It’s ‘incorrect’ to implicate me in Capital Bank collapse – Ato Essien play

It’s ‘incorrect’ to implicate me in Capital Bank collapse – Ato Essien

The Director of defunct Capital Bank, William Ato Essien, has refuted claims that he was in-part responsible for the collapse of the bank.

According to him, the Bank of Ghana’s report that implicates him in the collapse of the bank is ‘factually incorrect”.

READ ALSO:  Collapsed Bank: Employees of Consolidated Bank to know their status after 60 days

Ato Essien, who was the majority shareholder in the bank, said the matter is still being investigated by Economic and Organized Crime Organization (EOCO) and that he has not been found guilty of anything.

Ato Essien play

Ato Essien

 

“There are several aspects of the circulating reports that are factually incorrect,” he said in a statement issued on his behalf by his lawyers.

He added that other directors and shareholders of the defunct bank are also being investigated by EOCO.

Ato Essien is reported to have, with the approval of the board chairman, used monies it received from the Central Bank as financial support to for other uses including securing the license for another collapsed bank, Sovereign Bank.

This was contained in a detailed report by the BoG, which said he flouted all banking and risk management rules in the management of monies saved at the bank by its customers.

READ ALSO:  Menzgold Saga: Here is why Precious Minerals Marketing Company revoked Menzgold’s licence

“Our client and other directors/shareholders have been thoroughly investigated by the Economic and Organized Crime Office (EOCO) over the last six months which is continuing… As far as our client is aware of, EOCO has not issued its findings on the investigations yet,” the statement from Ato Essien’s lawyers read.

His lawyers further called out the media, insisting no judgement has been passed on the client, hence he cannot be made guilty of anything.

“We urge the press to, therefore, be circumspect in their reportage and await the outcome or findings of the EOCO investigations,” the statement added.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Breaking Otabil finally breaks silence on banking controversiesbullet
2 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
3 Banking Crises Sahel Sahara and Omni Bank become latest to mergebullet
4 Increment Fuel prices to go up again – IESbullet
5 Incompetence Otabil wasn't qualified to be Capital Bank Board...bullet
6 Nana Appiah Mensah Menzgold boss apologises to BoG after...bullet
7 Collapsed Banks Here are the auditing firms for the 7...bullet
8 Bank Collapse Capital Bank Board misused GHC 610 million...bullet
9 Capital Bank Collapse Here are the roles of a...bullet
10 Banking In Ghana Stranded customers of First Allied...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 Money Alert Meet Africa's richest womanbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Support Finance minister buys Kantanka carbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet
10 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business