The founder of the defunct Capital Bank, William Ato Essien, has made what is believed to be his first public appearance since his release from jail.
Ato Essien was granted bail in July 2025 by the Court of Appeal in the sum of GH¢10 million with two sureties, after reports indicated that he was unwell and required medical attention.
Capital Bank Conviction: Court grants William Ato Essien bail
As part of his bail conditions, he was also required to deposit his passport at the court’s registry.
His release came after spending 21 months in prison for his role in the bank’s collapse.
In new photos sighted by GhanaWeb and shared on Facebook on Friday, December 19, 2025, by the Deputy CEO of Tema Oil Refinery (TOR), Mustapha Abubakar, Ato Essien was spotted wearing a blue striped suit, while attending an event.
According to the post accompanying the pictures, the event was a press conference to commemorate the signing of an agreement between Cybele Energy and the Government of Guyana for the exploration of oil in the South American country.
Other photos from the event showed some key government officials and dignitaries attending the occasion alongside Ato Essien.
About Ato Essien:
Ato Essien was convicted in December 2022 for allegedly embezzling over GH¢90 million from Capital Bank, funds acquired through Bank of Ghana liquidity support.
Although initially spared a custodial sentence via a restitution agreement, he was later jailed in late 2023 after failing to fulfil the payment terms.
The state, under the Nana Addo Dankwa Akufo-Addo government, entered an agreement under Section 35 of the Courts Act, 1993 (Act 459), with Ato Essien and settled on him paying GH¢90 million to avoid being jailed.
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He paid GH¢30 million in cash before the settlement was adopted by the court, with the rest to be paid over a period of one year.
He, however, defaulted after paying GH¢9 million in addition to the GH¢30 million and was jailed for 15 years after the then Attorney General applied to the court for him to be sentenced.
See some of the photos below:
MAG/AE
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