The Attorney General’s Office has rejected the refund agreement submitted by the founder of the now-defunct Capital Bank, Mr William Ato Essien.
Mr Essien, who is under prosecution for the collapse of Capital Bank, had written to the Attorney General’s Office proposing to refund some of the money lost.
But Chief State Attorney, Marina Appiah Opare, on Thursday, 18 June 2020, told an Accra High Court that the agreement was “totally unacceptable”.
According to her, the terms were not favourable to the state.
However, she said the state has since received another proposal from Mr Essien and was currently studying it.
According to her, this deliberation would not stop the trial from proceeding since the negotiation will affect only four of the charges.
The lawyer for Mr Essien, Mr Baffour Gyawu Bonsu Ashia, urged the court to adjourn the case explaining that reaching an agreement will substantially affect the case.
Justice Kyei Baffour adjourned proceedings to July 2020, saying should the state fail to reach an agreement, the case will proceed.
Mr Essien and three others are facing 26 charges for the various roles they played that led to the collapse of Capital Bank.
Last month, his lawyers informed the court that they were engaging the Attorney General based on Section 35 of the Court’s Act.
The Act allows an offer of compensation or restitution in respect of some of the charges brought against accused persons.
Accordingly, they had already indicated to EOCO that their client was willing and ready to return some GHS27 million to the state.
The lawyers said he had paid close to GHS1.4 million and also given out some 19 newly-cleared cars from the port to the state.
The Attorney General’s office, in response, confirmed the negotiations and informed the court that they would consider it.