George Haddad, Others Indicted

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MONROVIA-The Grand Jury for Montserrado County has indicted George Haddad and four others for allegedly stealing over US$ 891,641.57  dollars from CIL Risk Management Limited (CRAM).

The defendants are George Haddad, Prof. Dew Tuan-Wleh Mayson, Patricia F. Fahnbulleh, Cape Maritime by & thru its Manager and Bridgeway Corporation by & thru its Manager.

The defendants were charged with Multiple crimes: Theft of Property by Deception, Misapplication of Entrusted Property Criminal Conspiracy& Criminal Facilitation in violation of 4LCLR, Title 26, Section 10.2 and 4LCLR, Title 26, Section 2.2 (a) (b) (e), a second greed felony.

According to the indictment, during the periods 2008 to 2019, Co- defendant DAS Holding INC represented by Prof. Dew Tuan- Wleh Mayson and George Haddad and the CIL RISK Management Limited,  a Nigerian investment and fund management company, an associate and parent company of Mutual Benefits Assurance company Liberia represented by its group Manager, Dr. Akin Ogunbiyi entered into a Memorandum on June 3, 2008.

The indictment revealed that during the period mentioned and after CRAM remitted the amount of US$ 200,000.00 dollars on July 1, 2008 into the account of Co- defendant DAS Holding INC for the sole purpose of augmenting the cost of importing the first consignment of cement into Liberia, George Haddad and his associates changed the plan and diverted the money into their personal use.

Contrary to the purpose and intent of the memorandum of Agreement and the purpose for which the money was remitted,  the indictment indicated that the complainant, while trying to uphold the terms and conditions of the MOA , discovered in 2019 from DAS Holding INC’s Ecobank statement of account from June 5, 2008 to March 31, 2010 that Co- defendants Patricia F. Fahnbulleh , Bridgeway Corp and Cape Maritime began to withdraw funds of CRAM entrusted to DAS Holding by issuing out checks to the following institutions and individual without its authorization and consent.

The indictment further noted in order to perpetuate the theft and misapplication, Co- defendant DAS Holding and George Haddad were assisted and aided by the other Co- defendants and withdrew for the account of DAS Holding INC of money entrusted to it by CRAM for the importation of cement to Liberia; thereby creating a scheme to defraud the private Prosecutor.

 

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