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For ‘Using’ Kailondo Petroleum Company’s Account-3 to carryout Bogus Transactions, Global Bank exposed

For ‘Using’ Kailondo Petroleum Company’s Account-3 to carryout Bogus Transactions, Global Bank exposed Featured

Cogent court documents obtained by the Heritage have revealed that the Management of Global Bank Liberia Limited supposedly opened a secret account unknown to prominent Liberian Businessman, Cllr. George B. Kailondo, which is called Account-3.Kailondo Petroleum Company.

Cllr. George B. Kailondo is the Chief Executive Officer (CEO) and President of the Kailondo Petroleum Company.

According to the court documents, the Bank’s authority was allegedly using Kailondo Petroleum Company’s Account-3 to carryout bogus transactions unknown to Cllr. Kailondo, while the Liberian Businessman was paying towards his loan to the Bank.

This latest revelation comes at the time Global Liberia Limited’s Legal Team has lined up their first witness to testify in their lawsuit at the Commercial Court at the Temple of Justice in Monrovia where the trial has resumed.

But lawyers representing Businessman Kailondo’s Petroleum Company said they are not worried by the Management of Global Bank Liberia Limited’s counter legal lawsuit against their client at the Commercial Court.

It can be recalled that a fortnight ago, the Bank was convicted by the trial juror of Criminal Court ‘C’ for stealing over US$3.4M from Kailondo Petroleum Company’s Account.

This led to the Bank’s Lawyer, Cllr. Jimmy Saah Bomba’s ten- count petition for for closure of mortgage at the Commercial Court, accusing Businessman Cllr. Kailondo of being indebted to the Bank of over US% 3.5M, an accusation Cllr. Kailond’s lawyers have since denied.

Kailondo’s Legal Team told the Heritage during their last hearing at the Temple of Justice that the Bank’s petition for for closure of mortgage is “wick and empty”, saying it is the Bank that is rather indebted to their client as indicated in the evidence proffered before the Criminal Court ‘C’ , which led to conviction of the bank for theft.

Cllr. Kailondo’s Lawyers bragged that they have evidence to show that their client is not indebted to the Bank.

Prior to the Bank’s count legal suit at the Commercial Court, Criminal Court ‘C’ adjudged the Bank for stealing over US$3.4M from Kailondo Petroleum’s Company.

The Eleven of the twenty men penal jurors adjudged the Bank guilty while the head of the penal distanced herself from her colleagues’ verdict.

The majority jurors’ verdict claimed that the weight of the evidence adduced in Court by the prosecuting lawyers was convincing to convict the Bank for theft of property and misapplication of entrusted property.

Global Bank Liberia Limited, through its Managing Director Rotimi Sangodeyi and his deputies, were indicted by the Grand Jury of Monsterrado County during the February Term of Court for stealing over US$ 3.4M from the Kailondo Petroleum Incorporated’s Accounts with the Bank.

Read 1143 times Last modified on Wednesday, 29 June 2022 07:15
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