The Court of Appeal has granted bail pending appeal to William Ato Essien, founder of the defunct Capital Bank, with a GHS10 million bond and two sureties.

The court ruled on Wednesday, July 30, 2025, that Ato Essien must deposit his passport at the court’s registry and report to the Registrar monthly.

This decision comes after the businessman was sentenced to 15 years imprisonment in 2023 by the Accra High Court for embezzling over GHS90 million of the bank’s funds.

Essien’s sentence followed his failure to refund the total amount under a restitution agreement, which initially secured a non-custodial sentence.