Capital Bank Founder Ato Essien Granted GH¢10 Million Bail by Court of Appeal
- The Court of Appeal granted the Capital Bank founder GH¢10 million bail with two sureties
- William Ato Essien is required to surrender his passport and report monthly to the court registrar
- He was earlier jailed for embezzling over GH¢90 million in Bank of Ghana liquidity support funds
The Court of Appeal has granted William Ato Essien, the founder of the defunct Capital Bank, a GH¢10 million bail.
The bail comes with conditions, including monthly reporting to the registrar and the surrender of his passport.
Source: UGC
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.
He was sentenced to 15 years in prison with hard labour in October 2023 after failing to fulfil the terms of a plea bargain agreement.
This recent development comes after Essien's bail application was denied by the Accra High Court in May 2025, pending his appeal of the 15-year jail term.
The court exercised judicial discretion to deny the application, ruling that he would remain in custody as his appeal progresses through the legal system.
The post about Essien being granted bail is below:
President Mahama petitioned to pardon Ato Essien
The bail was grant after a section of Ghanaians petitioned President John Mahama to pardon Essien on grounds of health.
On July 27, 2025, Dr John Apea, the Head of Missions at the Commonwealth Enterprise and Investment Council and board member of the Commonwealth Human Rights Office for Africa, highlighted the deteriorating health of the defunct Capital Bank’s founder as a pressing concern.
In multiple media interviews, Dr Apea stated that Essien was now wheelchair-bound due to a reported spinal injury sustained while in custody.
“As it stands, Ato is not receiving the critical medical attention he needs within the prison system,” he stated.
“For me, the call for clemency is paramount, more than the court case, Capital Bank issues, or politics. I’d rather leave the legal matters to his lawyer. Right now, our focus should be on the real issue, his health.”
In a recent conversation on X with Ghanaian social media influencer Joshua Boye-Doe, popularly known as KalyJay, Dr Apea questioned the integrity of Ghana's judicial system, arguing that there is a contrast between how Essien is being treated compared to other high-profile figures convicted of financial crimes.
"The real issue is that here's our father, here's our brother, here's our son who can't take care of himself in prison because he's in ill health. Do we leave him there? Is that rehabilitation, or is that a death penalty? We don't have capital punishment for financial crimes in Ghana, but is this a silent execution that we are putting people who are ill through? I don't think that should be the case,” he said.
Source: Getty Images
Godfred Dame joins campaign for Essien's pardon
Meanwhile, YEN.com.gh reported that former Attorney-General Godfred Yeboah Dame had backed calls for the release of the former Capital Bank CEO.
He also criticised the office of the current AG, Dominic Ayine, for its handling of high-profile matters. Essien was convicted in 2022 for embezzlement.
Source: YEN.com.gh
