Ghana’s anti-graft agency picks up Capital Bank’s chief, William Essien

Men of Ghana’s anti-graft agency, Economic, and Organised Crime Office have picked up Capital Bank’s chief, William Ato Essien.

Ato Essien was reportedly picked up in connection with the collapse of the Capital Bank months after it was taken over by Bank of Ghana.

Local media reports that Ato Essien was arrested on Tuesday, April 17, 2018, in order to help the anti-graft agency with its investigation into the circumstances that led to the collapse of the financial institution.

Allegations against Ato Essien

Allegations brought against Ato Essien include involvement in multi-million Cedis fraud while the bank was still existing.

Ato Essien is alleged to have siphoned millions of funds from Capital Bank to invest in other businesses that include a microfinance bank.

The former bank chief is alleged to have been the brain behind Accent Financial Services situated at the Airport Residential area in Accra, Ghana.

Other allegations include his reported interest in an insurance company, beverage company, and real estate.