The Managing Director of the defunct Capital Bank, Fitzgeral Odonkor has debunked claims that he was in support of the GH¢27.5million paid to the founder of the bank, William Ato Essien.
According to him at the Accra High Court on Thursday April 7, 2022, he defended that the Board of the Bank approved the money as ‘business promotion’ to Essien for his role in securing a GH¢620 million liquidy support from the Bank of Ghana.
He said, although he was not in support and did not approve the payment with other management members, they had to agree because of the Board’s approval.
Essien, Odonkor, and Tettey Nettey, the Managing Director of MC Management Services, a company said to be owned by Essien are however standing trial on various counts of stealing, conspiracy and money laundering.
Meanwhile, the accused persons have pleaded not guilty to all the charges.