GT Bank Concedes Robbing Kailondo Over US$100 Million

By: R. Joyclyn Wea

MONROVIA-The management of Guaranty Trust (GT) Bank Liberia Limited has allegedly conceded to robbing the chief executive officer of the Kailondo petroleum incorporated of US$112,500.00 during reconciliation of the company’s bank statements before the Ministry of Justice.

The bank through its management is on trial at Criminal Court “C” for crimes: theft of property, misapplication of entrusted property and criminal conspiracy.

Cllr. George Kailondo took the witness stand Wednesday to testify in favor of the state as to his sitting knowledge about the case against the bank.

Cllr. Kailondo told the court that the bank admitted to withdrawing the amount stated above, but said they (Bank) used the money to pay themselves thereby, requesting for another reconciliation which he (Kailondo) refused.

“We refused because some of the money they took from us is shameful for this we think they should come to court for the public to know about what they did to our accounts,” he said.

According to Kailondo, the first amount conceded to by the bank in the tone of USD$510,000.00 also paid.

He told the trial that several transactions were made by the bank without his company’s being aware.

In 2015, Kailondo said they approved the payment of US$3.3 million, but during the auditing, it was discovered by their auditors that over US$3,468,000.00 whereas they were only aware of the US$3.3 million.

He further told the trial that he deposited US$50,000.00, but the bank reduced about US$50,000.00.

“they sometimes take money from my account in the name of regularization. He continues I don’t even know what kind of terminology is that.”

Cllr. Kailondo also inform the court that the bank did not treat him good as a truthful customer to them, had that been the case, they could never have ended up in court.

“The former manager that died, was a friend of mine. We did everything humanly possible to have this case amicably resolve.”

 

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