At Skye Bank, the operations of fraudsters is a norm because the bank itself can accommodate all sorts of fraudulent transactions, and at the end protects thieves in the name of ‘customer confidentiality,’ even at the expense of the bank’s integrity, if any.
The bank has refused to produce to the police, the identity and home address of the Indian businessman, Rakesh, who has been operating a fraudulent account within the bank under the watch of management.
Sky Bank originated from Nigeria but it operational license was in 2018 revoked by the Central Bank of Nigeria (CBN),a trend that should be followed by Bank of Sierra Leone, if they are serious about maintaining integrity in the country’s banking industry.
The bank is operating in Sierra Leone as a safe haven where they think they can do whatever, including condoning fraudulent transactions and easily get away with it.
At Skye Bank, hundreds of cheques payable to Concord Times Communications were safely deposited into an account number 011102317740102066, operated by an Indian businessman, through fictitious third party authorisation, without the prior knowledge of Concord Times management.
Despite several correspondences, the bank has refused to provide certain details including the residence and photo of the said Indian desperado, all in the name of customer confidentiality.
Seeeminly, the bank is protecting their fraudster Indian customer as against the reputation of the bank and Concord Times will not relent in its move expose the ineptitude of the bank.
Procedurally, the bank should not honour such suspicious transaction without notifying the institution whose name is indicated on the cheque, but such was not observed by Skye Bank.
While other banks are maintaining high ethical standards in terms of banking procedures, Skye Bank is neck-deep into encouraging fraudsters that are bent on defrauding newspaper outlets of their meagre resources.
Concord Times has established that the said account hosted by Skye Bank was specifically set up to defraud newspaper outlets.
Documentary evidences in the possession of Concord Times revealed how the bank is being used as a safe haven for a certain criminal cartel, whose job is to defraud newspaper outlets to the extent of rendering them bankrupt.
While Concord Times has no dealings with the bank, evidences in our possession revealed how the institution’s cheques running into nearly five hundred million Leones, were cashed out at Skye bank without the prior knowledge of the management of Concord Times.
Some of the Concord Times staff, who were allegedly involved in the said fraudulent act, are currently being investigated by the police, but the bank has refused to furnish the police with certain information that would aid their investigation.
Management of Concord Times had had several meetings with the management of the bank and an initial gentleman’s agreement was for the bank to refund all the monies fraudulently deposited into the criminal Indian cartel account hosted by the bank.
The bank earlier agreed to refund an initial fifty millions which was deposited into the account from January, 2020 to May, 2020, but later declined paying after Concord Times dug deep and established that a whoopy four hundred and eighty one millions Leones was deposited into the account from the year 2016 to 2020.
In the presence of their lawyer and ours, the deputy manager of the bank categorically stated the bank’s position that, they would not refund the money because they owe their shareholders answers for whatever money they release, especially having to do with such a colossal amount that was fraudulently deposited into the bank.
Their lawyer had argued that the bank cannot pay the money because it has not been established that the bank is criminally liable for such transaction.