Famous Pastor, Mensah Otabil, 46 other directors to appear before court over collapse of financial institutions in Ghana

A financial consultant and a former lecturer at the Ghana Banking College, Dr Richmond Attuahene has disclosed that the founder of the International Central Gospel Church, Mensah Otabil and 46 more directors of the collapsed financial institutions in Ghana are scheduled to appear before court.

Famous Pastor, Mensah Otabil, 47 other directors to appear before court over collapse of financial institutions in Ghana

According to him, apart from the four (Ato Essien and three others), that have been put before the court and granted bail, others are in line to also appear before the court to face charges of various financial malpractices that led to the collapse of some financial institutions in the country.

Dr Attuahene said this while speaking in an interview with Accra based Okay FM.

He explained that Directors which include; Dr Paa Kwesi Nduom and Pastor Mensa Otabil are all expected to appear before the court.

"The government has assured us of putting all the Directors before the court to be able to retrieve customers' funds and also be able to safeguard funds of government that were wrongly invested by these Directors, so we are waiting for the appropriate action to be taken," he said.

He also charged the government to arrest Dr Paa Kwesi Nduom if acts of money laundering are found in his line of business.

The government of Ghana charged the founder of defunct Capital Bank, William Ato Essien together with three others with 26 offences following the collapse of the bank.

According to the state, the activities of the four led to the collapse of the bank in 2017.

The other three who played various roles at the Bank during its operational period included Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio

The charges levelled against the four included multiple counts of conspiracy to steal, abetment of crime, stealing, and money laundering.

This action was the first by the state in the aftermath of the collapse of some nine banks by the central bank over their inability to meet a number of regulatory requirements.

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