By Fatima Kpaka
Freetown, Sierra Leone — The trial of Issa Sesay, a teacher accused of defrauding Union Trust Bank (UTB) of over NLe 2,770,000, continued on Thursday, November 21, 2024, before Magistrate Santigie Bangura at Pademba Road Court No. 2. The first prosecution witness, Augustine A. Manga, Head of Compliance at UTB, provided critical testimony detailing the alleged fraudulent transactions.
The Allegations
Issa Sesay faces two counts of larceny for allegedly stealing NLe 2,770,000 and an additional NLe 135,066.26 from the bank between July 5 and 10, 2024. He has pleaded not guilty to both charges.
Witness Testimony
Augustine Manga testified that the accused, a UTB customer, was granted access to a mobile payment service called Union Trust Bank Corpor, which allows customers to make third-party payments linked to their primary account. Manga explained that the accused used the service to debit UTB’s general ledger and credit his Sierra Leone Commercial Bank account.
On July 5, 2024, Sesay reportedly initiated transactions to transfer funds to his wallet, but system limits restricted his withdrawals. Manga revealed that by July 10, Sesay had managed to debit UTB’s ledger and transfer over NLe 2,770,000 to his Sierra Leone Commercial Bank account.
Investigation and Recovery Efforts
UTB’s finance department flagged the suspicious transactions during reconciliation. In response, both Union Trust Bank and Sierra Leone Commercial Bank froze Sesay’s accounts. Of the NLe 2,770,000 stolen, UTB recovered NLe 2,634,933.34, leaving a shortfall of NLe 135,066.26. The matter was reported to the Financial Intelligence Unit and the Criminal Investigation Department (CID) for further investigation.
Court Proceedings
Under cross-examination by defense counsel A. Kamara, Manga maintained that the accused manipulated UTB’s system to execute unauthorized transfers. Magistrate Bangura, citing the severity of the case, denied bail and ordered Sesay to be remanded at the Male Correctional Facility in Freetown. The case has been adjourned to November 28, 2024, for further hearings.
Implications
This case highlights the vulnerabilities of digital banking systems and the importance of stringent compliance measures. It also underscores the collaborative efforts between financial institutions to detect and prevent fraud.
Stay tuned as the trial progresses with further revelations.
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