The Resident Circuit Judge of Criminal Assizes “A”, His Honor Roosevelt Z. Willie, has issued an indictment on the management of Global Bank Liberia, through their Managing Director/Chief Executive Officer (CEO), Rotimi Sangodeyi, and all their authorized personnel to appear in court to answer to the charge of theft of property and misapplication of entrusted property.
Judge Willie’s indictment was prompted by a formal complaint by the Government of Liberia (GOL) by and through the Liberia Anti-Corruption Commission (LACC).
According to the 15-count indictment, a copy of which is in the possession of the Hot Pepper, the Montserrado County Grand Jury, upon oath, more probably found that Global Bank Liberia Limited, through its Managing Director and other authorized personnel, transferred and disposed monies intended for the use by the owner, Kailondo Petroleum Incorporated, represented by its Manager, Cllr. George B. Kailondo.
The indictment continued that, from the period 2014—2021 CEO Sangodeyi and others, having influenced and authorized the withdrawals, transfers, deduction of commissions and fees from the (escrow and current) accounts of Kailondo Petroleum Incorporated, bearing account numbers 103010204953, 103010108930, 103020104523 and 10302012015198, in both currencies (USD and LRD), without the authorization of the company’s CEO, Cllr. Kailondo, in several amounts totaling US$3,460,422.93 and L$6,245,800.00.
Count four of the indictment noted that between the period July 31, 2019 and December 31, 2019, it was established by the LACC investigation that four debit transactions, totaling US$90,385.11, was processed by the defendant, Global Bank management, with the narration, “Debit Interest”, without any source document authorizing the debits. The investigation did not also establish the rate at which these interests were calculated due to the failure of the bank to provide any source documents relating to the said transactions.
The indictment noted that the act of the defendant is contrary to 4 LCLR, Title 26, Section 15:56 of the Statutory Laws of the Republic of Liberia, and peace and dignity of the Republic of Liberia.
The Statutory Laws of the Republic of Liberia provides that a person is guilty of a misdemeanor of the first degree if he disposes of, uses or transfers any interest in property which has been entrusted to him as a fiduciary, or in his capacity as a public servant or an officer of a financial institution, in a manner that he knows is not authorized and that he knows to involve a risk of loss or detriment to the owner of the property or to the government or other person whose benefit the property was entrusted.
“And the grand jurors aforesaid, upon their oath aforesaid, do present that the herein above named defendants aforesaid, do say that the crimes of theft of property and misapplication of entrusted property, the said defendant did do and commit contrary to the form, force and effect of the statutory laws of the Republic of Liberia in such cases made and provided and against the peace and dignity of the said Republic,” Judge Willie’s indicted noted.