Ex-Sierra Leone bank boss discharged for ‘lack of evidence’

Four key suspects in one of Sierra Leone`s biggest banking fraud cases have been freed for “lack of evidence.”

The move was ordered by the country`s Justice ministry which said the initial charges had been filed in the absence of the Justice Minister hence their incompetence.

Former Sierra Leone Commercial Bank (SLCB) Managing Director, Crispin Bishop Deigh, his deputy, Patrick Conteh, popular Nigerian banker Chief Tony Izubundu Chinyere, and a less known 4^th accused were acquitted and discharged on Friday.

They were among 12 people indicted earlier in June in a bank loan scandal involving US$4.8 million.

Among the allegations include conspiracy to obtain unsecured loans.

The man at the center of it all, property developer Simeon Kaba Kalu, was slammed with increased charges alongside eight others before been released on bail.

Mr Kalu was alleged to have connived with the top management of SLCB to secure loans with false pretense.

The government-owned SLCB is the largest among 13 commercial banks in the country and the scandal shocked the nation.

A Government statement released following last Friday`s ruling by a Freetown court blamed the decision by the country`s Attorney General on apparent inefficiency of the police which were prosecuting the case.

It announced the transfer of the case to the Anti Corruption Commission (ACC) and the Bank of Sierra Leone (BSL) which are said to be capable enough to conduct appropriate investigations.

Evidence against all 12 initial suspects have been handed over to the ACC and BSL “given the two institutions` respective capacities to handle forensic investigations of emerging financial crimes,” the statement said.

The discharge of Mr Deigh and Co is likely to raise eye brows.

The fight against corruption has been a topical issue in the country, with political will and alleged inefficiency of the Justice Ministry being at the center stage.

The case in June attracted tough action by the [Central] Bank of Sierra Leone (BSL) which replaced the top leadership of SLCB.

Friday`s statement warned of further action by the BSL Governor “as maybe deemed fit.”

It added that the passports of all the accused remain in custody and travel ban leveled on them earlier remains in force pending further investigations.