- Search Results
 
 
Court Fines LBDI U$300 For Delayed Response
Date Uploaded: Jan 05, 2017

Temple Of Justice

 

Court Fines LBDI U$300 For Delayed Response
By Ballah M. Kollie

MONROVIA, January 4 (LINA) - For failing to adhere to a 72-hour deadline of Criminal Court “C”, the management of the Liberia Bank for Development and Investment (LBDI) has been fined US$300 payable within 24 hours.

The decision reached on Wednesday, January 4, grew out of the case in which state prosecutors through the court subpoenaed eight commercial banks to produce the bank statements of individuals indicted in the Sable Mining alleged bribery case.

Following the filling of the subpoena on December 22, all the other banks complied with the exception of LBDI.

The motion for the subpoena was contested by the legal team of co-defendant Varney Sherman and the Sherman and Sherman Law Firm.
Varney Sherman, Sherman and Sherman Incorporated, former Speaker of the House of Representative J. Alex Tyler, E. C .B. Jones, Christopher Onanuga and the UK-based Sable Mining are being tried by the Government of Liberia for allegedly giving and receiving bribe in the tone of U$950,000 to change the public procurement law of Liberia.

The change was intended to grant Sable Mining company access to the iron ore rich Wologizi Mountain.

The motion was heard on December 22, denied and the banks ordered by Criminal Court “C” Judge Yamie Gbeisay to, in 72 hours beginning December 23, turn over the requested document to the Clerk of Court.

In his ruling, Judge Gbeisay observed that LBDI did not give any justifiable reason why it did not meet up with the court’s deadline, adding, “This is not my first experience with this bank in disobeying court order.”

The bank Wednesday submitted the requested document but was slapped with the fine for submitting the document late and to also serve as a deterrent to would-be violators.

According to the ruling, unless the statutory period for payment is keenly observed, the president or any other manager- in- charge will be detained at the Monrovia Central Prison while the management complies with the court order.
LINA BMK/TSS/PTK

latest headlines
LRA, FIRS Of Nigeria Sign MoU
The Liberia Revenue Authority (LRA) and the Federal Inland Revenue Service of Nigeria have (FIRS) signed a Memorandum of Co-operation that will s ...more
Judge Kaba Stresses Truth In Media Reportage
The Resident Judge of the Sixth Judicial Circuit Court, Yusuf D. Kaba has admonished members of the Association of Judicial Reporters (AJUR) to d ...more
UN SG Comments On Sexual Exploitation, Abuse
As part of efforts to institute special measures for protection from sexual exploitation and abuse, UN Secretary General (UNSG), Antonio Guterres ...more
Jury Declares Samukai Not Guilty
The 12-member Trial Jury at Criminal Court ā€œAā€ has pronounced a not-guilty verdict in favor of Michael Samukai, son of Defense Minister Brown ...more
Liberia Law Society Ends Seminar In Bong
The Liberia Law Society (LLS) has held a seminar on the establishment and functions of the ECOWAS Court, the African Court and the International ...more
First Prosecution Witness Links Defendants Sable Mining Crime
The prosecution first witness in the ongoing Sable Mining case at Criminal Court ā€œCā€ has linked all of the defendants to the commission of th ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency