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State agrees for Ato Essien to refund GH¢90m instead of being jailed but judge disagrees

Founder of now-defunct Capital Bank, Ato Essien has agreed to refund GH¢90 million to the state in replacement of a custodial sentence if found guilty.

Ato Essien

According to a report by Citinewsroom.com, the High Court was unable to deliver judgment following an agreement between the state and Mr. Essien and two others.

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But the presiding judge, Justice Eric Kyei Baffour, disagreed with the agreement, stating that the amount agreed to be paid is not commensurate enough.

He adjourned the case to December 13, for the parties to address the court properly on legal basis and the terms of the agreement.

Ato Essien and two others have been on trial for the past three years for their involvement in the collapse of Capital bank.

In other news, the Supreme Court, will on Wednesday, January 25, 2023, deliver its judgement in the case challenging the payment of monthly allowance to spouses of the President and the Vice President.

Parliament voted mid-last year on an amendment to the Prof. Ntiamoah-Baidu Committee to pay wives of the President and Vice-President almost $47,000 during the tenure of their husbands in office.

A section of the public however criticized the move, citing harsh economic conditions as a basis for their opposition.

Subsequently, two Members of Parliament; Rockson-Nelson Etse Dafeamekpor, Dr. Clement Apaak, and a private citizen, Frederick Nii Commey, took the matter to the Supreme Court for pronouncement.

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