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Le380m fraud: Vita Foam CEO testifies

August 1, 2016 By Hawa Amara

Chief Executive Officer of Vita Foam -Sierra Leone, Olaoluwa Okylaawa, on Friday testified against Ghanaian Frank Bioh, who allegedly attempted to withdraw the sum of Le380 million from the company’s   Zenith Bank account.

The accused was charged with one count of attempted felony, contrary to law before Magistrates Albert J. Moody, presiding at the Freetown Magistrates’ Court No.1.

Mr Okylaawa told the court that his responsibility as CEO includes the day-to-day running of the business and assisting the Board achieve their short and long term goals.

He recalled that on 3 May, 2016 he went to Zenith Bank to withdraw the sum of Le380 million, which he believed had been paid into the company’s account.

The Nigerian CEO said he later rushed to the bank after having received a phone call from bankers that he report immediately.

“I went to the bank, where I met the accused sitting close to the manager, who asked him as to whether he recognised me as the person who had given him an instruction to transfer money from the account. The accused replied in the negative,” he told the court.

He told the court that the alleged Ghanaian fraudster had gone to the bank with a Vita Foam withdrawal document to withdraw Le380 million.

The document was tendered as exhibit A1-2.

The matter is prosecuted by Assistant Superintendent Police Samuel Kamara.

The matter was adjourned to 2 August, 2016.

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