Capital Bank boss in fresh scandal

William Ato Essien The man, whose alleged dubious deal caused the collapse of Capital Bank, is purportedly in a fresh financial s...

William Ato Essien

The man, whose alleged dubious deal caused the collapse of Capital Bank, is purportedly in a fresh financial scandal, robbing Ghanaians of their money running into several millions of Ghana cedis.

William Ato Essien and his alleged cronies, according to DAILY GUIDE’s sources, had virtually depleted the funds in a financial institution, making their customers stranded.

The emerging scandal makes the case of DKM microfinance a child’s play.

The depositors’ fund in the finance house has allegedly been looted by the directors who were said to have been appointed by Ato Essien, including Isaac Oheneba Osei Akoto, who was also cited in the Capital Bank scandal.

Part of the money allegedly found its way into other phony businesses purportedly set up by Ato Essien, including an insurance company.

Attempts to speak to the man at the centre of the unfolding scandal were not successful.

Interestingly, while the scandal was brewing, the Banking Supervision Division staff of the Bank of Ghana (BoG) looked on as if the scandal was plotted.

Ato Essien and other directors of defunct Capital Bank are under investigation by the BoG for corporate governance and other related charges, including siphoning of depositors’ funds.

An internal report of a probe into how Third Party Funds (TPFs) were used by the Capital Bank shareholders has revealed massive individual and corporate liabilities running into millions of Ghana cedis.

The report, which also looked at the segregation of liabilities of persons and/or individuals of the company, showed that even in 2014, the entire shareholders’ liabilities were hovering around GH¢56,788,289.00.

Capital Bank and UT Bank were recently taken over by GCB Bank under the BoG directive owing to insolvency.

According to the report, William Ato Essien, who controlled majority of the shares (52 %) of the bank, was sitting on a liability of GH¢29,529,910.28, while Dr Stephen Enchill with 11% shares had GH¢6,246,711.79 liability.

Isaac Osah Thompson-Mensah, Kinsley Attah Ghansah and Isaac Oheneba Osei Akoto, who all had 5% each of the shares, had liability of GH¢2,839,414.45 each.



Africa Politics,119,Biography,26,br,1,Breaking News,225,Business,21,Celebrities,919,Donald Trump,38,Education,3,Entertainment,625,Extras,47,Foreign News,7,Foreign Showbiz,385,Ghana People,140,Ghana Politicians,531,Ghana Politics,719,Ghana Post,2,Gossip,194,Lifestyle,239,Local Showbiz,1027,Music,156,News,725,Opinions,25,People and Opinions,268,Politics,140,Religion,26,Sex Tapes,29,Social Media,82,South Africa Today,109,Sports,1006,Tech,5,Try it,1,USA Today,129,Videos,161,Viral,196,World Politics,176,
item Capital Bank boss in fresh scandal
Capital Bank boss in fresh scandal
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy