Concluded Conviction March 1, 2022

Fraudulent withdrawal from the accounts of Kailondo Petroleum Inc. by officials of Global Bank Liberia Ltd.

Health Circuit Court

Case Details

Case Number: N/A

Start Date: N/A

Level of Government: National

Nature of Case

Officials of the Global Bank Liberia Ltd. fraudulently withdrew over US$3.4 million and LR$6.2 million from the USD and LRD Accounts of the Kailondo Petroleum Inc. without authorization and could not account for same. Conviction obtained and bank ordered to restitute with penalty.

Case Summary

Criminal Court ‘C’ Judge Ciapha Carey ruled in favor of Liberia businessman George B Kailondo in his US$3.5 million case with the Global Bank Liberia Limited.
The bank was indicted by the Liberia Anti-Corruption Commission on for financial crimes. A uninamanius verdict was handed down by the 12-member jurors in favor of Kailondo. Speaking to journalists after the ruling, the Liberia Anti-Corruption Commission Chief prosecutor Cllr.Jerry Garlawolo, said the victory marked a new day for Liberian businesses.
According to him, for too long some banking institutions in Liberia have duped Liberians. He, however, encouraged investors to invest in Liberia.