21 November 2012

Liberia: Afriland Bank Dragged to Court

...For Multiple Charges

The Management of the Afriland First Bank has been taken to court on multiple charges, including Theft of Property, Criminal Conspiracy, Criminal Mischief and Felonious Restraint.

The Bank was taken to the Monrovia City Court based on a complaint filed by the management of the F. M. T. Construction Company for reportedly breaking into its warehouses in Monrovia.

According to a writ of summon from the Magisterial Court, on July 17 up to and including November 14, 2012, the Bank, with wicked intent, purposely connived and conspired with others, broke and entered the warehouse of the company and took away several items valued at over US$116,000.00.

The writ said after taking away the items, the defendant locked and sealed the facilities and exercised unauthorized control, thereby restraining the complainant from having access to the warehouse.

The Bank's decision to have taken the defendant's materials or items was based on a US$100,000.00 loan that was reportedly taken from the bank, payable over six (6) calendar months.

The loan was intended to purchase 100 metric tons of scrap metals from the United Nations Mission in Liberia (UNMIL) and the payment should have been completed by December this year with a 10% flat rate discount.

The complainant reportedly commenced the repayment of the loan since June this year with the deadline still ahead, December.

The defendant's action being unlawful, wicked and intentional and in violation of Chapters 15, 14 and 10 Sections 15.51, 14.25 and 10.2 of the Penal Law of the Republic of Liberia.

When the Management of the Afriland First Bank was contacted, a branch manager at its Crown Hill Offices, said he was not aware of the information. The manager who didn't state his name told reporters to contact the Bank's lawyer but also declined to give the name and contact number of the lawyer.

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