William Ato Essien, the founder of the now-defunct Capital Bank, has been granted bail by the Court of Appeal in the sum of GH¢10 million with two sureties, offering him a reprieve as he challenges his 15-year sentence.
The court’s decision comes with strict conditions: Essien must surrender his passport and report to the court registrar every month, ensuring continued oversight while his appeal is heard.
This latest ruling overturns an earlier decision by the Accra High Court in May 2025, where Justice Emmanuel Lodoh dismissed Essien’s bail request, ordering that he remain in custody as his appeal progressed.
Essien’s legal troubles began in December 2022, when he was convicted for embezzling more than GH¢90 million in Bank of Ghana liquidity support funds. Despite entering a plea bargain, he failed to honour the terms, leading to a 15-year prison sentence with hard labour in October 2023.
The Court of Appeal’s ruling marks a turning point in the protracted legal battle, as the former bank executive seeks to clear his name and avoid serving the lengthy sentence.
