Mensa Otabil, 47 others expected to be arraigned before court

A financial consultant and a former lecturer at the Ghana Banking College, Dr. Richmond Attuahene has disclosed that 47 more Directors of the collapsed financial institutions would be arraigned before court.

According to him, apart from the four (4) that have been put before the court and granted bail, others are in line to also appear before the court to face charges of various financial malpractices.

Speaking on Okay FM’s ‘Ade Akye Abia’ program, he explained those other Directors which include; Dr. Paa Kwesi Nduom and Pastor Mensa Otabil are all expected to appear before the court.

“The government has assured us of putting all the Directors before the court to be able to retrieve customers’ funds and also be able to safeguard funds of government that were wrongly invested by these Directors, so we are waiting for the appropriate action to be taken,” he said.

He also charged the government to arrest Dr. Paa Kwesi Nduom if acts of money laundering is found in his line of business.

William Ato Essien, Founder of the defunct Capital Bank, and three others whose roles allegedly led to the collapse of the bank have been admitted to bail by the Commercial Court (High Court Division).

Ato Essien, who is also a Majority Shareholder of Capital Bank Limited; Tetteh Nettey, Managing Director of MC Management Services, a company established by Essien, and Fitzgerald Odonkor, a former Managing Director of Capital Bank, were admitted to bail in the sum of 200-million cedis each while Kate Quartey Papafio, a businesswoman and Chief Executive officer of Reroy Cables Company Limited, was admitted to bail in the sum of 75 million cedis.

The four accused persons are to provide four sureties each of who are of good character and are of substance.

The Court presided over by Mr. Justice Eric Kyei Baffour, further ordered them to deposit their passports to the Registry.

It further directed the prosecution to furnish all the accused persons with the necessary documents, audios or video recordings that they intend to rely on during the trial.

According to the Court, the State is to comply with the orders by November 13 and adjourned the case to November 20.

Ato Essien is facing 26 counts of conspiracy, stealing and money laundering.

Watch interview below