25 February 2013

Liberia: U.S.$1.2 Million Fraud At FIB - Customers Assured

Authorities at the First International Bank or FIB announced over the weekend that they have discovered a fraud amounting to US1.2 million at the bank involving several employees.

Managing Director of the First International Bank Liberia Limited, Mr. Sylva C. Ashimole

The bank's Communication Officer Mr. A. Ambulah Mamey told journalists here Saturday that an internal investigation conducted by the bank has linked seven operational staff to the theft, adding that the possibility of others being linked to the theft cannot be overruled.

However, he said the fraud has in no way affected customer's deposits at the bank.

"The fraud has zero effect on our customer's saving", he said.

Mr. Mamey said the suspects have been turned over to the Liberian National Police undergoing investigations for possible prosecution, while the bank continues its regular operations unhindered.

He said the fraud was first reported to the Central Bank of Liberia in line with its regulations and professional standard.

"As we look forward to a speedy investigation and prosecution, the bank's legal team has braced itself with prima facie evidence and is set and ready to explore all legal avenues in recovering the bank's assets from the alleged fraudsters," he said.

"We assure our customers maximum security of their assets and the bank's continuous fast provision of products and services that are tailored toward wealth creation and poverty reduction in the Liberian economy.

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