New Democrat (Monrovia)

Liberia: Ecobank's U.S. $500,000 Or $50,000?

Joe K. Roberts

1 July 2009


Alice Roberts, the Ecobank Head Teller now on trial for allegedly stealing US$519,056.51 from the bank's Duala branch, scored a major legal victory Tuesday when her lawyer argued, and the court agreed, that evidence contained in this paper's November 25, 2008 edition could be introduced as evidence in her favor.

"...This is not a major incident as the press is making it out to be. We are still strong and expanding. The amount of US$500,000 was not the sum that was stolen from the bank. The actual figure was about US$50,000. This incident is being investigated and chances are that she (Alice Roberts) may not be guilty," this paper quoted Ecobank boss, Mrs. Morenike Adeposu, as saying in a November 25, 2008 banner story entitled: Ecobank US$0.5m Theft Web Widens, Escaping Culprits Grabbed, Tight-lipped Suspect Possible "Black Money" Victim.

Mrs. Adeposu, in a hastily arranged press conference held on November 24, 2008, maintained that information surfacing on the theft was incorrect and inaccurate.

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But on June 3, in his two hours testimony, James S. Paywala, former Branch Manager of Ecobank's Duala Branch, testified before Judge Yussif D. Kaba of Criminal Court "C" and a panel of jurors that on Tuesday, November 18 2008 said, (contrary to what his boss said) that five hundred nineteen thousand fifty six dollars fifty one cent (US$519, 056. 51) and Liberian dollars of eight Thousand Five hundred dollars (LD8, 500) was missing.

Paywala: "...We did a detailed count of all the hundreds and fifties in the vault and we noticed that there was a total shortage of five hundred nineteen thousand fifty six dollars fifty one cent (US$519, 056. 51) And Liberian dollars of eight Thousand Five hundred dollars (LD8, 500) was missing.

In court, on Tuesday, Judge Kaba agreed with Alice Roberts' lawyer, Cllr Francis Galawolo, that, indeed, the New Democrat article of November 25, 2008 quoting Ecobank boss as saying only US$50,000 was missing should be entered as evidence into court records.

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