According to a police report, Mr. Gharddien, owner of Auto Elegance had in January this year applied to Access Bank Liberia for loan in the amount of
According to Gharddien, earlier in January he had been approached by
Gharddien notes that he accepted the offer and entered into the loan agreement on 28 February, after which he says the bank opted to notarize the agreement and to return his company's copy.
However, police say the bank has since failed and refused to give Gharddien's copy of the notarized document, adding that after the complainant complied with the bank's requirement, the money suggested to the bank has not been made available to the company, thus depriving his company access to its account.
According to the police report, prior to the receipt of the loan from Access Bank Liberia, money was in Auto Elegance's account, and that after the
Unfortunately for the management of Auto Elegance, police say when it issued a check leaf on 21 March to one Joyce Belleh Kermee to withdraw
Further on 24 March, police detail that the entity also issued another check leaf to the same Joyce Belleh Kermee to be paid the cash amount of
Meanwhile police indicate that
According to police, Mr. Gonkatee also allegedly wrote Mr. Gharddien stating that he (Gonkartee) was not responsible for what had happened regarding the loan.
Police found that Auto Elegance is not obligated to any financial institution reference loan or credit facility as per the record of the
The police add that the reliance of the investigation is drawn from policy of the bank under loan disbursement and loan interest calculation 2.4 which is in the possession of the investigation.
Additionally, the investigators say the loan agreement between Access Bank Liberia and Auto Elegance was consummated and accepted for which the bank is still in possession of the collateral of Mr. Gharddien.
In response to the NewDawn newspaper's inquiry, the Management of Access Bank Liberia has written that specifically, Auto Elegance was required to execute its obligations under the Contract and as per
The bank explains that Auto Elegance was made aware of those obligations and requirements in the Credit Facility
According to
The bank details that it decided to apply its rights to cancel the credit facility and avoided unsecured high-risk loan.
It emphasizes that the banks are strictly regulated by the law and the
It says it also ensures that credit facility terms and conditions are communicated formally to customers in the form of Credit Facility
Further,
However, this was not the first time Auto Elegance had been given a loan facility at the bank. In fact this was his second facility from the bank, this is why Mr. Gharddien found the explanation given by the bank so fishy and more that even denying him access to his company's account.
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