Documents were forged to implicate me in the Capital Bank collapse – Witness told in court

Businessman Dr Tetteh Nettey has made serious allegations about how he got involved in the Capital Bank case.

He alleges that officials at the collapsed bank coerced him into signing certain documents when the officials were asked by the Securities and Exchanges Commission (SEC).

It was then that regulators began investigations into the operations of financial institutions.

He explained that he refused to sign the documents only to see the same documents at his trial with his signature.

The Bank of Ghana in 2017 revoked Capital Bank‘s banking license, declaring it insolvent.

Dr Nettey, along with the bank’s founder, William Ato Essien and former chief executive, Fitzgerald Odonkor, have been slapped on 26 counts, including theft of various sums worth more than 260 million of ¢.

Dr. Nettey is accused of helping the two bankrupt bank officials dishonestly withdraw ¢130 million from the bank’s funds and use them as capital to establish the defunct Sovereign Bank.

Chief State’s Attorney Evelyn Keelson on Thursday, March 31, confronted Dr. Nettey with documents showing his involvement in the transaction.

She also asked him if he had paid for his 32 million shares of Sovereign Bank. These actions, according to the state, were paid for with money dishonestly taken from the Capital Bank.

prosecutor: You owned shares of Sovereign Bank worth ¢32.5 million. Is it correct?

Dr Netey: I held shares in trust for the first accused to the tune of ¢32.5 million. We signed documents as we did in the case of MC management, but unfortunately the first defendant did not give me my copies even though I had requested it individually.

Prosecutor: On July 28, 2015, you signed a letter of engagement engaging All Time Capital as arrangers for the management services of Capital Bank and MC. It’s in evidence as Exhibit JJJ.

Dr Netey: Monsignor, this document is foreign to me. The fact is that the direction of MC in a breath is said by the prosecution to have an address of PO Box 17308; in another breath is PO Box L1, Larterbiokorshie. This document indicates that the date indicated is July 28, 2015. The incorporation of the leadership of MC, my Lord, began on October 6 and 7.

That aside, my Lord, in July I was busy incorporating and listing the two companies I had started from scratch on the Shana Stock Exchange. Working with the SEC and auto brokers all July and even August and September. I did not know the services of MC Management. In fact, it did not exist, according to the RGD.

Prosecutor: I finally submit to you that from your statement to the police and the signatures on the various documents that, you now deny having actually signed these documents, and your denial is only an afterthought.

Dr Netey: These documents are false; they are all a fake. I didn’t write them and I didn’t know where they came from.

The matter was adjourned to April 7, 2022.