By Mamajah Jalloh
On Wednesday, November 13, 2024, Guaranty Trust Bank (GTBank), Nigerian national Patrick Adeyemi Egunnike, and two additional accused individuals appeared before Magistrate Santigie Bangura in Pademba Road Court No. 2. They face multiple charges tied to an alleged scheme to defraud Ibrahim Bazzy and Sons Limited, a prominent company in Freetown. The six-count indictment includes charges of conspiracy to defraud, falsification of accounts, forgery, uttering forged documents, failure to maintain transaction records, and fraudulent conversion of property.
The charges stem from incidents said to have occurred over a two-year period between July 1, 2015, and July 31, 2017. Prosecutors allege that GTBank and the co-accused conspired to manipulate the accounts of Ibrahim Bazzy and Sons Limited with intent to deceive. According to the indictment, the accused falsified financial records, forged the signature of Hussein Ibrahim Bazzy on a banking facility offer dated July 31, 2017, and knowingly submitted this fraudulent document.
In another serious accusation, GTBank is charged with failing to maintain essential application and acceptance records related to loans provided to Admiral Trading Limited and Ibrahim Bazzy and Sons Limited. The final count alleges that on July 20, 2017, GTBank fraudulently converted a title deed it was entrusted to safeguard on behalf of Ibrahim Bazzy and Sons Limited, retaining it for its own use.
During the hearing, the accused were read the charges but entered no plea. State prosecutor Yusuf Isaac Sesay, Esq., requested that the defense counsel confirm the presence of all accused individuals, noting that several were absent from the proceedings. Defense counsel Roland Wright explained that one of the defendants was ill but assured the court they would appear at the next session. He requested a short adjournment to prepare.
Magistrate Bangura denied bail, ordering that all present defendants be remanded to the male correctional center in Freetown. The case has been adjourned until November 20, 2024, for further proceedings.
This high-profile case has captured significant public attention, spotlighting issues of banking oversight and corporate governance in Sierra Leone.
