Head of Mission for the Commonwealth Enterprise and Investment Council, Dr. John Apea, has described the decision by convicted Capital Bank founder, William Ato Essien, to enter a plea bargain as his biggest mistake.
According to Dr. Apea, the decision was not only legally flawed but has had long-lasting consequences for Essien, who is currently serving a 15-year sentence at Nsawam Medium Security Prison.
Speaking in an interview on Adom FM’s Dwaso Nsem, Dr. Apea stated, “His lawyers didn’t want him to accept the plea bargain, but I don’t know what happened. I was not in his head, and I don’t know what people told or promised him. But when you are hungry, angry, scared, or depressed, you can make decisions that come back to haunt you.”
Dr. Apea, who has expressed his intention to petition the President for a pardon on Essien’s behalf, said the embattled banker maintains his innocence regarding the circumstances that led to his conviction.
“When he started the court proceedings, he said he was not guilty. He claimed to have earned the finder’s fee legally and wasn’t the Managing Director or part of the management team. He only acted as a facilitator in securing the loan,” Dr. Apea said.
He also questioned the fairness of the financial demands placed on Mr. Essien under the plea agreement.
“If he is being accused of taking money illegally, it should be the GH₵26.5 million and not the GH₵90 million, which includes GH₵62 million in interest. That’s injustice. There are people in not-for-profit roles in the UK who earn more than the Prime Minister, but no one calls them criminals. It’s about the principle, and in my view, Ato Essien didn’t break any laws.”
Dr. Apea argued that the case was mishandled and urged a review of its outcomes. “When I saw the evidence, I realised it was not right. How does someone get jailed for a legal transaction?”
Ato Essien pleaded guilty to 16 counts of stealing and money laundering on December 13, 2022, after admitting to the misuse of GH₵90 million in liquidity support extended to Capital Bank by the Bank of Ghana.
He was convicted but initially avoided jail after reaching a plea bargain with the Attorney General to repay the full amount as reparation and restitution.
However, by October 12, 2023, Mr. Essien had defaulted on key payments, having paid only GH₵37 million out of the GH₵90 million. The court, citing his failure to meet agreed installments, sentenced him to 15 years in prison. Justice Eric Kyei Baffour ruled that he could be released if the outstanding GH₵53 million was fully paid.
Source: Gertrude Otchere
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