Jan 7, 2015, 10:38 AM
The case resumed with the testimony of Yusupha M Jaiteh, former acting finance director of the corporation.
The accused persons are Abdoulie B. Tamba, former managing director of the corporation, Abdoulie Dibba, former commercial director, and Yusupha M. Jaiteh, former acting-finance director
Designated as defence witness three (DW3), Jaiteh denied the charge in count 5 which was read to him by his counsel.
The AMRC has never made any direct payment to Samcad, but rather it was the bank that paid Samcad when the guarantee became due, he said.
He said the payment of D67,200,000 was made to Samcad in two units, adding that the first was D60 million and the second payment was D7,200,000.
The payment was not made by AMRC, but by AGIB Bank, he said.
Told by his counsel that the charge said he and the 1st and 2nd accused persons fraudulently paid Samcad the sum of D7,200,000, Jaiteh said this is not true.
They did not make the payment to Samcad, but it was the bank that did so, as per the terms of the bank guarantee.
Further reminded that in his evidence-in-chief he told the court that the global sum was D67,200,000, Jaiteh said, “Yes” and that it was the same sum as stated in count three.
He was not a board member, and the litigation between AGIB Bank and AMRC was to recover the balance outstanding from the bank guarantee.
The guarantee was D67,200,000 and the litigation came to an end, he added.
The outcome of the case was that AMRC lost, and when they appealed, it was struck out, Jaiteh further told the court.
Asked by his counsel if he remembered one Saikou Jaiteh, Jaiteh said Saikou was a customer of AMRC, and he was supplied with rice.
Saikou negotiated with the 1st accused and, after they agreed, they both went to his office, where as the acting-finance Director, he was instructed to issue Saikou with rice and put it in writing as he did with all others, Jaiteh added.
Saikou paid and he requested a statement from him to be printed out, Jaiteh continued.
The said statement was shown to him, which he identified and the defence counsel applied to tender it in evidence, without any objection from the DPP.
At the end of Jaiteh’s evidence-in-chief, he was cross-examined by the DPP.
State prosecutors in count one accused Abdoulie B. Tamba, Abdoulie Dibba and Yusupha M. Jaiteh, stating that between 2009 and 2010 in Banjul whilst holding public office, willfully and recklessly caused monetary loss to Asset Management and Recovery Corporation (AMRC) to the tune of D15, 450, 000 by selling rice and cement to various individuals on credit without proper collaterals.
The charge sheet in count two stated that Abdoulie B. Tamba, Abdoulie Dibba and Yusupha M. Jaiteh, between 2009 and 2010 in Banjul, willfully and recklessly caused monetary loss to the AMRC to the tune of D7,200,000 by fraudulently converting same to the use of Samcad Holding.
Count three read that Abdoulie Dibba and Yusupha M. Jaiteh, andanother person at large (Tamba), between 2009 and 2010 in Banjul, in abuse of the authority of their office, took a loan of D67,200,000 on behalf of the AMRC without the necessary approval of the Board of Directors.
Count four stated that Abdoulie Dibba and Yusupha M. Jaiteh, and another person at large, between 2009 and 2010 in Banjul, in abuse of the authority of their office, took a loan of D49,751,520, on behalf of the AMRC without the necessary approval of the Board of Directors.
Count five stated that Abdoulie Dibba and Yusupha M. Jaiteh, and another person at large, between 2009 and 2010 in Banjul, fraudulently converted to the use of Samcad Holding Ltd the sum of D7,200,000, being money belonging to the AMRC.