USD$122,000 fraud…


German CEO put on stiff bail

September 28, 2016 By Patrick Jaiah Kamara

Magistrate Dr. Abou Bhakarr Binneh-Kamara, presiding at the Magistrates’ Court No.1, yesterday granted stiff bail conditions to Chief Executive Officer of German Drilling Group Sierra Leone Limited for fraudulently converting to his own use the amount of USD$122,000, entrusted to him on behalf of the company.

Dr. Olaf Grabowski was charged with seventeen counts of fraudulent conversion contrary to Section 519 of the Companies Act of 2009.

The accused person was put on a USD$200,000 bail plus three sureties in like sum, who should be senior citizens above forty-five years.
The magistrate ordered that each surety should produce their national passport, two title deeds worth US$150,000 and two bank statements that have deposits of Le500 million each and that the said bank statement must be certified by the General Manager of the bank.

The Magistrate also ordered that the accused person and his sureties surrender their passports to the Master and Registrar of the High Court, who shall approve the bail, and that the accused person should be reporting to the latter once every week.

The prosecution alleged that the accused person on various dates between 1st November and 22 August, 2016 in Freetown, being the CEO of German Drilling Group Sierra Leone Limited, fraudulently converted to his own use various monies he collected on behalf of his company.

Earlier, Assistant Superintendent Samuel Kamara objected to bail after defense lawyer I.S.Yillah prayed that the court put his client on bail.

But the magistrate granted the bail, albeit giving stiff conditions to the German.
The matter will recommence on 4 October, 2016.