{"id":4011,"date":"2019-09-30T14:05:27","date_gmt":"2019-09-30T14:05:27","guid":{"rendered":"https:\/\/www.africa-press.com\/ghana\/?p=4011"},"modified":"2019-09-30T14:05:27","modified_gmt":"2019-09-30T14:05:27","slug":"mp-drags-capital-bank-ceo-says-innocence-claim-a-mere-charade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/mp-drags-capital-bank-ceo-says-innocence-claim-a-mere-charade","title":{"rendered":"MP drags Capital Bank CEO; says innocence claim a mere charade"},"content":{"rendered":"

New Patriotic Party (NPP) Member of Parliament for Sekondi, Andrew Mercer has dragged founder of defunct Capital Bank, William Ato Essien over his recent media appearance where he claimed innocence in the collapse of his bank.<\/strong><\/p>\n

Speaking on\u00a0Citi FM\/TV’s The Big Issue, the ruling NPP communicator said Ato Essien’s whole interview on Metro TV\u2019s Good Evening Ghana was a performance.<\/strong><\/p>\n

\u201cI think this really was a charade\u2026 when people do the wrong things, they can\u2019t come and sit on national TV and pretend to be angels.\u201d<\/p>\n

The MP recounted reports of suspected fraud and financial malfeasance that emerged after Capital Bank\u2019s collapse in August 2017.<\/p>\n

A BoG report noted that the then-Capital Bank CEO, Rev. Fitzgerald Odonkor may have had is signature forged in the authorisation of certain deals related to the GHc610 million liquidity support to the bank.<\/p>\n

The management of the Bank, with the approval of the Board Chair, diverted some of the BoG support or other uses. Some of that money was presented as capital to set up another collapsed bank, Sovereign Bank.<\/p>\n

Among the flagged transactions were GHc 27.5 million used for business promotion and handled by a board member; transfers to IFS amounting to GHc 23.9 million, transfers to Nordea Capital amounting to GHc 65 million, and transfers to Alltime Capital amounting to GHc 130 million.<\/p>\n

Mr. Mercer also referenced the memo by CEO of the Bank at the time, John Kofi Mensah\u00a0that emerged following\u00a0the collapse\u00a0indicating that Capital Bank was aware of its capitalisation issues.<\/p>\n

The Attorney General earlier in September announced that 50 directors and owners of seven collapsed banks will soon be prosecuted and Mr. Mercer said he \u201ccannot wait for prosecutions to commence.\u201d<\/p>\n

\u201cPeople are going to be held accountable for the acts that they did in the banking sector,\u201d he declared.<\/p>\n

Capital Bank was found to be owing GHc468 million, which was said to have arisen due to negligence from the Board.<\/p>\n

A lawsuit by the Receiver of the bank demanded that Mr. Essien pay back over GHc468 million in shareholder loans and some GHc108 million that was granted to him and his other companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

New Patriotic Party (NPP) Member of Parliament for Sekondi, Andrew Mercer has dragged founder of defunct Capital Bank, William Ato Essien over his recent media appearance where he claimed innocence in the collapse of his bank. Speaking on\u00a0Citi FM\/TV’s The Big Issue, the ruling NPP communicator said Ato Essien’s whole interview on Metro TV\u2019s Good […]<\/p>\n","protected":false},"author":66,"featured_media":4012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[2676,2572,2675,2677],"class_list":["post-4011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-andrew-mercer","tag-founder-of-defunct-capital-bank","tag-new-patriotic-party-npp-member-of-parliament-for-sekondi","tag-william-ato-essien"],"yoast_head":"\nMP drags Capital Bank CEO; says innocence claim a mere charade - Ghana<\/title>\n<meta name=\"description\" content=\"New Patriotic Party (NPP) Member of Parliament for Sekondi, Andrew Mercer has dragged founder of defunct Capital Bank, William Ato Essien over his recent media appearance where he claimed innocence in the collapse of his bank.Speaking on\u00a0Citi FM\/TV's The Big Issue, the ruling NPP communicator said Ato Essien's whole interview on Metro TV\u2019s Good Evening Ghana was a performance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/mp-drags-capital-bank-ceo-says-innocence-claim-a-mere-charade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MP drags Capital Bank CEO; 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