A former Deputy Minister of Finance, Kweku George Ricketts-Hagan has said the former Chief Executive Officer of the defunct Capital Bank, William Ato Essien could have been prosecuted without the government revoking the bank’s license to collapse it during the financial sector cleanup.
Capital Bank was declared insolvent by the Bank of Ghana (BoG) in August 2017 as the bank’s “liabilities greatly exceeded its assets.”
Mr Ato Essien admitted that the bank faced severe financial challenges before the revocation of its license by the Bank of Ghana.
These challenges include many non-performing loans, toxic assets and insolvency. He made these revelations while he was led by his lawyer Baffuor Gyau Ashia to testify as he put up his defence …
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