• About Us
  • Contact Us
Ghana Talks Business
  • Home
  • News
  • Business
  • Personal Finance
  • Travel
  • Lifestyle
  • Media
  • Features
  • Africa Media
No Result
View All Result
  • Home
  • News
  • Business
  • Personal Finance
  • Travel
  • Lifestyle
  • Media
  • Features
  • Africa Media
No Result
View All Result
Ghana Talks Business
No Result
View All Result

Capital bank collapse: Ato Essien, two others owed GH¢79.9m

14/08/2018
Reading Time: 1min read
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

An internal report on the erstwhile Capital bank has shown that the bank’s founder, William Ato Essien and two others, were indebted to the bank to the tune of 79.9 million cedis (GH¢79,937,812) as at the time the bank collapsed.

This represented about 60 percent of the total Third Party Funds.

The report mentioned William Ato Essien, owed the highest.

The report showed that total third Party Funds which refers to a financier of one or more transactions but has a lesser interest, amounted to 136.7 million cedis.

Of the amount, 56.7 million cedis was to be debited to shareholders while the remaining 79.9 million cedis was debited to William Ato Essien and the two other shareholders; Dr Stephen Enchill and Mr. Isaac Osah Thompson-Mensah.

William Ato Essien, the founder of the bank, is indebted to the tune of 77 million cedis while Dr. Enchill and Mr. Osah are indebted to the tune of 1.2 and 1.5 million cedis respectively.

Also, it emerged that a property belonging to the bank at Labone, cost 3 million dollars of which an amount of 2 million cedis was taken from the bank’s resources as part payment.

Though an account was opened for purposes of payment for the property, only 2 million cedis out of the 5.8 million cedis could be accounted for as there were no confirmations for the other transactions.

The committee recommended that Mr. William Ato Essien be allowed to keep the Labone Property upon the payment to the Bank of an amount of 5.19 million cedis being the sum total of the 2 million cedis and the interests.

Failure to do so within seven days like other infractions should warrant attaching the individual’s shares and or personal properties.

citibusinessnews.com

Previous Post

UEW Vice Chancellor, four others dismissed

Next Post

The travel boss who refuses to do online sales

Related Posts

Failure in business

Finding the Fortune in Failure

01/03/2021
Crowdfunding

Crowdfunding: A Criminal’s Hiding Place?

26/02/2021
future of tourism in Ghana, ghanatalksbusiness.com

The Future of Tourism in Ghana

26/02/2021
Energy sector recovery plan

World Bank Clarification Statement on its support to Ghana’s Energy Sector Recovery Plan

26/02/2021
national institutions that support business

Top 5 national institutions that can help support and grow your business

25/02/2021
Fintech innovation, ghanatalksbusiness.com

Kenya Is Becoming a Global Hub of FinTech Innovation

24/02/2021
Next Post

The travel boss who refuses to do online sales

Shareholders, ex-directors of UT and 2 others banned from financial market

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2020 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Business
  • Personal Finance
  • Travel
  • Lifestyle
  • Media
  • Features
  • Africa Media

© 2020 Ghana Talks Business