The NEWS (Monrovia)

26 February 2013

Liberia: U.S. $1.2 Million Disappears

The First International Bank (FIBank) has disclosed that seven of its staff have allegedly defrauded the bank of US$1.2 million.

Addressing a news conference last Friday in Monrovia, the Media Officer of the bank, Ambulah Mamey said internal investigations conducted has revealed that the seven staff "clandestinely conspired" to defraud the bank of its assets.

Mr. Mamey disclosed that the alleged fraudsters have been turned over to the Liberian National Police for investigation.

He said the bank would continue its regular operations as the fraud has zero effect on "our customers' savings."

Mr. Mamey said the Central Bank of Liberia (CBL) has been notified in line with the regulations and professional standards governing banks in Liberia.

"This press briefing is just a fulfillment of our responsibility to the market we operate in," Mamey said.

Mamey: "The bank's legal team is fully prepared with prima facie evidence and will explore all legal avenues in recovering the bank's asset from the alleged fraudsters".

He then assured customers of maximum security of their assets while investigation continues.

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