President John Dramani Mahama has been petitioned to grant a pardon to William Ato Essien, entrepreneur and founder of defunct Capital Bank.
The petition, submitted by Andrew Appiah-Danquah, a lawyer on Thursday, 27th February, raises concerns about the fairness and integrity of Essien’s conviction and subsequent imprisonment.
Essien was sentenced to 15 years in prison by an Accra High Court after being found guilty of stealing over GH¢90 million in liquidity support provided by the Bank of Ghana to the then Capital Bank.
Initially, he was given an opportunity to avoid a custodial sentence by agreeing to repay the GH¢90 million as restitution to the state. However, he failed to adhere to the agreed payment terms with the Attorney General and the court.
Despite paying GH¢30 million upfront in December 2022, Essien was unable to settle the remaining GH¢60 million in the stipulated installments. This failure led to the enforcement of a custodial sentence, prompting legal and public debate regarding the circumstances of his conviction.
The petition argues that his imprisonment disregards his contributions to Ghana’s financial sector and undermines the legacy of a visionary entrepreneur.
The document asserts that Capital Bank’s collapse in 2017 was not the result of fraudulent activities but rather a politically motivated attempt to consolidate financial power.
It claims that Essien’s refusal to cede control of his bank to influential political figures ultimately led to its downfall. Furthermore, it states that the GH₵620 million liquidity support was a commercial loan, not fraudulent misappropriation, as Capital Bank had already repaid GH₵336 million in interest over two years.
Additionally, the petition challenges the court’s rationale in convicting Essien while acquitting three other accused persons—Dr Tetteh Nettey, Rev Fitzgerald Odonkor, and Kate Quartey-Papafio—who faced similar charges. It points out that the court acknowledged that the transactions involving these individuals were lawful and fully accounted for.
Therefore, the petition questions why Essien’s case was treated differently and calls for a review of his conviction.
In conclusion, the petition urges President Mahama to reconsider Essien’s imprisonment in the interest of justice. It argues that his conviction was inconsistent with the legal treatment of others involved in the case and that his role in Ghana’s banking sector should not be disregarded.
The petition emphasises that a pardon would correct what it describes as a miscarriage of justice and restore confidence in the fairness of Ghana’s legal system.
Days before former President Akufo-Addo ended his eight-year tenure, reports emerged that he had pardoned William Ato Essien and others.
However, the presidency denied the reports saying the names had only been suggested for pardon and that a conclusion had not been reached yet.
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