A special investigative team has been set up to look into how funds were disbursed to parties involved in the collapse of the defunct Capital Bank, Attorney-General, Gloria Akuffo, has revealed.
She explained that the special team has become necessary because the case of the collapsed bank is a public interest matter that must be prosecuted expeditiously.
According to her, monies were given for a specific purpose – which is to revive the bank – but the monies were allegedly used for a different purpose.
She stated that the funds were not given to any individual but were to serve as liquidity support and should have been treated as such.
Four persons, Founder of defunct Capital Bank William Ato Essien, the Managing Director of the bank, Fitzgerald Odonkor, Tettey Nettey, the Managing Director of MC Management Services, Essien and Kate Quartey-Papafio, a businesswoman and Managing Director of Reroy Cables Company Limited, have been charged with theft.
They appeared in court on Monday where they pleaded not guilty to charges of stealing and money laundering.
They have been granted bail to reappear at a different date.
Listen to her in this video.
Latest Stories
-
Court remands unemployed man over theft of ECG property
4 mins -
Election security rests solely with the police – Central Regional Police Command
6 mins -
NCCE engages political youth activists at Kumbungu on tolerance
7 mins -
‘In Mahama’s era students lacked chalk, but are now receiving tablets’ – Bawumia
16 mins -
Project commissioning not a ploy to attract votes – Oppong Nkrumah
18 mins -
CBG records GH¢1bn revenue in Q3
20 mins -
Mahama vows to create an agro-processing zone in Afram Plains
34 mins -
Political parties should plan for losses, not just wins – IGP advises
36 mins -
524 Diasporan Africans granted Ghanaian citizenship in ceremony
38 mins -
Mahama urges Afram Plains North residents to avoid ‘skirt and blouse’ voting
39 mins -
Asantehene receives more 19th century gold ornament and regalia
47 mins -
Hohoe Ghana Blind Union organises training for members ahead of Election 2024
53 mins -
Alan Kyerematen reveals his future plans for Ghanaian Health professionals
54 mins -
AAIN empowers women and small enterprises in Upper East Region through SHINE project
55 mins -
Akufo-Addo leads nationwide commissioning of 80 educational projects
1 hour