Ato Essien is the founder of defunct Capital Lender
The founder of defunct Money Lender has unveiled that the Finance Minister, Ken Ofori Atta, had designed attempts to purchase the financial institution in 2016.
William Ato Essien argues that if his bank was not remaining very well managed, it would not have captivated desire from Ken Ofori Atta then.
“If our financial institution was that undesirable, our recent Finance Minister alongside one another with the CEO of Business Group, Kelly Gadzekpo,” will not have occur to his business office to say they “were intrigued in getting the bank,” he explained to Paul Adom Otchere.
The Bank of Ghana (Bathroom) revoked the license of two professional banking companies – UT Financial institution and Cash Financial institution in August 2017.
The action was brought on by the lack of ability of the two financial institutions to change close to their adverse cash adequacy posture which has lingered on for some time now.
Bathroom mentioned the action experienced been taken from the afflicted banking companies owing to their “terrible” economic predicament and their incapacity to conduct inside of the banking business.
Mr Ato Essien is said to have engaged in functions of “willful deceit” which contributed to the collapse of his lender and 1 of the closed banking institutions, Sovereign Lender.
But he has denied that accusation.
He claimed there is no level robbing a bank he launched quizzing “looking at migrating it from an unregulated establishment to a controlled room and now to a common bank, what was the position?”
Mr Ato Essien has sued for the collapse of the lender denying misgovernance claims produced by the plaintiff, PricewaterhouseCoopers.
This was immediately after he was sued along with 15 other shareholders and administrators.
He has argued, a economic autopsy report which shaped the foundation of the fit towards him was “arbitrary, unfair, prejudicial and towards the policies of purely natural justice and offending due process.”
Popular pastor, Mensa Otabil and his church, Intercontinental Central Gospel Church, are among 15 shareholders and administrators of defunct Capital Lender sued about the collapse of the financial institution in 2017.
The writ of summons named the ‘sins’ of each individual of the defendants and verified a economical autopsy report that stated the failed bank’s founder, William Ato Essien, employed depositors resources as his “personal piggy bank”.
Pastor Otabil came out to reveal in August 2018, that through his non-govt function as a Board Chairman of the financial institution, some choices that were being manufactured turned out very well though some did not change out as well as had been expected.
But Mr Ato Essien claims criticisms from the gentleman of God, are unfair.
“He is an astute guy of God who speaks truth to electric power irrespective of who you are…In board conferences, he displays such ranges of intelligence,” he mentioned.
According to him, founded bankers like Harry Owusu, get intrigued by Pastor Otabil’s information of the banking sector.