Log In

Growing Calls for Pardon of Jailed Ghanaian Bank Executive William Ato Essien

Published 7 hours ago2 minute read

Prominent public figures are intensifying their appeals to President John Mahama for the pardon of William Ato Essien, the former Chief Executive Officer of the defunct Capital Bank. These calls are rooted in claims of disproportionate punishment meted out to Essien in the ongoing resolution of Ghana’s banking crisis, especially when compared to the discontinuation of cases against other individuals implicated in similar collapses.

Currently serving a 15-year sentence, William Ato Essien’s health has reportedly deteriorated significantly, leading to his hospitalization at the 37 Military Hospital where he now requires the use of a wheelchair. Advocates, including satirist Kwaku Sintim-Misa (KSM) and former NEIP CEO Kofi Ofosu Nkansah, have publicly expressed their concerns. Nkansah questioned the inconsistency, stating, “If all others are free, why not him?” Similarly, KSM made a direct plea for clemency, emphasizing Essien’s physical condition: “He’s in a wheelchair – grant clemency.”

Essien’s imprisonment stems from a December 2022 conviction for the theft of GH¢620 million, which originated from liquidity support provided by the Bank of Ghana. Following his guilty plea, he had initially agreed to repay a total of GH¢90 million. However, his failure to make a GH¢20 million installment payment in April 2023 led High Court Justice Eric Kyei Baffour to impose the maximum sentence permissible under Section 35(7) of the Courts Act, citing a violation of the agreed restitution terms.

This is not the first attempt to secure a pardon for Essien. In 2023, former President Akufo-Addo sought to grant clemency to Essien among a group of 11 prisoners, but this request was ultimately rejected by the Council of State. The complexities of the fraud case highlight how Essien allegedly diverted substantial funds through shell companies, specifically MC Management Services and All Time Capital. Furthermore, he was implicated in fabricating capital for Sovereign Bank and orchestrating the delivery of GH¢27.5 million in cash, transported in jute bags, under the guise of “business promotion.”

The current appeals underscore broader debates concerning accountability within Ghana’s banking sector clean-up and critically test the boundaries of presidential prerogative powers, as outlined in Article 72 of the constitution. As of now, the Presidency has not issued an official response to these growing calls for a pardon.

From Zeal News Studio(Terms and Conditions)
Loading...
Loading...

You may also like...