GT Bank In Trouble With Liberian Businessman For US$1.5M in Damages
The Managing Director of Guaranty Trust Bank Liberia Limited has been summon by Criminal Court ‘C’ to answer to a missing US$930,500.00 from the account of Liberians businessman George Kailondo.
Mr. Kailondo who is the Chief Executive officer of Kailondo Petroleum Company filed a formal complaint before Judge Peter W. Gbeneweleh, presiding judge of Criminal Court “C” relative to the withdrawal of monies from his accounts without his knowledge.
Based upon this, Judge Gbeneweleh has instructed court Sherriffs to pick up the managing director, deputies, and other executives of the bank and present them before that honorable court to answer to the criminal allegation levied against them by George Kailondo.
The Writ of summon states; “You are hereby commanded to summon Managing Director, Deputies, Operations Manager- Prince Saye, Executive Director, Comptroller and other Corporate Officers to be identified of Guaranty Trust Bank(GT Bank) Liberia Limited of the city of Monrovia, Liberia. To appear before the First Judicial Circuit, Criminal Court ‘C’ for Monsterrado County on Monday, 12th Day of July A.D 2021 at 9:00Am to answer to the crime THEFT OF PROPERTY AND CRIMINAL CONSPIRACY.”
It further stated that; “You are hereby further commanded to serve this writ of summons on the above named respondent and have your officer returns endorsed on the back of the original copy of this writ of summons, indicating the form and manner of its service.”
On June 3, 2021, the Grand Jurors for Monsterrado County, Republic of Liberia indicted defendants Managing Director, Deputies, Operations Manager- Prince Saye, Executive Director, Comptroller and other Corporate Officers to be identified of Guaranty Trust Bank(GT Bank) for the crime of theft of property and Criminal Conspiracy.
Theft of property is an unlawful taking and carrying away of someone else’s property without the consent of the owner with the intent to deprive the owner of the property permanently.
According to the indictment, Mr. Kailondo opened checking accounts; both United States Dollars and Liberian Dollars with number 0112605/002/0001/00 and 0113150/002/00 for the purpose of trust and confident in GT Bank Liberia Limited.
When Kailondo opened the accounts, the Managing Director and other listed above having knowledge of these accounts and Kailondo being the only signatory regarding transactions which include deposit and withdrawals, GT Bank criminally opened an escrow account bearing number 0112605/002/5020/000 closed to Kailondo account with sole intend to commit the act.
That on September 9, 2014 up to December 15, 2016, defendants Prince Saye, Managing Director and others knowingly, purposely, criminally and intentionally took, defraud, deprive and stole US$930,500.00 ( Nine hundred and thirty thousand five hundred united state dollars) from Kailondo checking accounts.
During that time, the defendants with criminal minds and intent conspired, connived colluded with one accord, designed and developed a scheme and made authorized and deceptive withdrawals the said amount.
It furthered that on the 12th day of December 2014,the defendants debited Kailondo USD account #001126050020001000 with the amount US$50,000,00. On April 12, 2015, the defendants again debited Kailondo with account number 01126050025020000 which is an escrow account. They transferred USD$150,000.00 without the knowledge and consent of Kailondo.
On April 23, 2015, similarly debited Kailondo USD Account#01126050025020000 with the amount of US$3,469,352.26 with narration A/C Tfr to settle Mature LC IFO Kailondo Petroleum. The Bank reflected that only US$3.3 million was transferred as the actual cost of the LC. Which led to the withdrawal of US$168,352.26.
Similarly; on January 8, 2016 up to March 28, 2016, GT Bank deducted US$50,000.00 on what they described as “reverse due to RTN CHK-Ecobank, without Kailondo knowledge. More to that, entered his account debited a transaction of US$40,000.00 exercising authorized controlled over Kailondo money and deprive him of the gainful use of his property.