Monrovia — The management of Kailondo Petroleum has presented court records that tend to expose claims made by GT Bank Liberia Limited regarding an alleged debt. Kailondo Petroleum asserts that GT Bank unlawfully withdrew over US $900,000 from its accounts without proper authorization.
According to court records in possession of this paper, Kailondo Petroleum made a payment of US$414,000 to GT Bank in response to a credit of US$3.3 million. At the time of the payment, there was a remaining balance of approximately US $377,000.
Kailondo Petroleum raised concerns about how GT Bank managed to increase the amount to approximately US$758,000 without their knowledge or consent.
Six years later, Kailondo Petroleum requested an audit of its accounts at GT Bank. The audit, as indicated in court records, unveiled that over US $900,000 had been withdrawn from various accounts of the company without proper justification.
According to the records, GT Bank deducted US $510 from the company's escrow account under the pretext of "regulation." Additionally, US $62,500 was taken from the company's operational account for a similar reason, as per the court documents.
Further scrutiny of the court records revealed that US $40,000 and US $50,000 were unlawfully withdrawn from Kailondo's personal account at Ecobank on different dates. Astonishingly, these funds were never deposited into KP's accounts at GT Bank.
Another US $50,000 was similarly withdrawn by the bank but did not appear in any of Kailondo Petroleum's accounts at GT Bank.
During the audit process, it was discovered that GT Bank had redrawn approximately US $3,468,352, leaving a discrepancy of US $168,352.
GT Bank filed a claim of US $1.2 million at the Civil Law Court; however, it failed to substantiate the allegation during the court proceedings. In fact, the bank admitted in court that it illegally withdrew approximately US $930,000 from Kailondo Petroleum's operations.
The revelations from the court records raise serious concerns about the actions of GT Bank and highlight the need for further investigation into their financial practices. Kailondo Petroleum seeks justice and hopes that the legal system will hold GT Bank accountable for its unlawful actions.
