President John Dramani Mahama has been petitioned to grant a pardon to William Ato Essien, the entrepreneur and founder of the now-defunct Capital Bank. The petition, submitted by lawyer Andrew Appiah-Danquah on February 27, 2025, raises concerns over the fairness of Essien’s conviction and imprisonment.
Mr.Essien was sentenced to 15 years in prison after being found guilty by an Accra High Court of stealing over GH¢90 million in liquidity support provided by the Bank of Ghana to Capital Bank. Initially, Mr.Essien was given the option to avoid prison by repaying the GH¢90 million as restitution to the state.
However, he failed to meet the agreed payment terms with the Attorney General and the court. Despite an upfront payment of GH¢30 million in December 2022, Essien was unable to repay the remaining GH¢60 million within the stipulated time frame, leading to his imprisonment.
The petition argues that the conviction undermines Mr. Essien’s contributions to Ghana’s banking sector and questions the motives behind his prosecution. It claims that the collapse of Capital Bank in 2017 was politically motivated and not the result of fraudulent activities. The petition further asserts that the GH₵620 million liquidity support was a commercial loan, and Capital Bank had already repaid GH₵336 million in interest over two years.
The petition also highlights a perceived inconsistency in the legal treatment of those involved in the case, pointing out that three other accused individuals—Dr. Tetteh Nettey, Rev. Fitzgerald Odonkor, and Kate Quartey-Papafio—were acquitted despite facing similar charges. The petition questions why Essien’s case was handled differently and calls for a review of his conviction.
In its conclusion, the petition urges President Mahama to grant a pardon in the interest of justice, arguing that Essien’s conviction was inconsistent with the legal treatment of others involved in the case and that a pardon would restore confidence in Ghana’s legal system.
Earlier reports indicated that former President Akufo-Addo had pardoned Essien and others before leaving office. However, the presidency denied the reports, stating that the names had only been suggested for pardon and that no final decision had been made.
Source:TheDotNews