By: Mama A. Touray
Saul Frazer, the chief executive officer of Global Properties and the seventh state witness, will today continue his testimony before Justice Ebrima Jaiteh at the Banjul High Court in the alleged anti money laundering trial of Paublo Djabi and two others.
Djabi and the co accused are charged with twenty counts, including dealing in prohibited drugs, possession of prohibited drugs, prohibition of certain activities relating to drugs, currency disclosure and the offence of money laundering.
During his last appearance, the real estate CEO told the court that Global Properties deals with buying and selling properties and that he owns 99 percent of the company’s shares.
When asked if he recognised Paublo, he said, “I understand that they are customers of mine but I don’t know them. I recognise the first accused, Paublo Djabi. They bought the property at Kololi Sands, the transaction happened a year ago but the price may range from 139,000 Euros to 136,000 Euros.”
Frazer informed the court that the accused bought three properties through one of their staff and added that “the manner of the transaction was very fair and straightforward.” He also told the court that Global Properties maintains several accounts. “We have accounts with most of the banks here, where we have foreign currency accounts and local currency accounts,” he said.
On the norm of payment at his institution, Frazer explained, “The norm is that we deal with all sorts of clients, both Gambians and non Gambians. Most of our properties are bought by people in the diaspora. So people coming to our office and paying cash, it is normal.” He continued, “People transferring money to our accounts, it is normal. There is no clear definition of what is normal and what is not normal in terms of this development.”
Counsel S. L. Jobarteh pressed the witness on the normal mode of payment, and he maintained, “I do not have any particular preference, as long as the payment is being made on time.”
The witness added that he was not aware of the anti money laundering act before the proceedings. “I just got to know about it here that my business is a reporting agent under the Act.” Counsel Jobarteh then told him, “It is a reporting entity under the Act, and the Act has imposed certain obligations that are mandatory for every business.”
Explaining how the accused paid for the three properties, Frazer said, “There was nothing ambiguous or abnormal about the transaction, the terms are, usually you pay a deposit of 30 percent, and then the balance you pay over a period of time.” He said payments for the Jabbi properties were made in cash.
Asked how he would identify the receipts and statements issued, he replied, “There was a contract made, and whenever payment was made, there was a receipt, and I believe I also submitted a statement of these transactions as well.”
He also told the court that according to the statement there is no outstanding balance, as the accused bought the three properties in full.
Frazer is expected to continue his testimony today at 10am.
By: Mama A. Touray Saul Frazer, the chief executive officer of Global Properties and the seventh state witness, will today continue his testimony before Justice Ebrima Jaiteh at the Banjul High Court in the alleged anti money laundering trial of Paublo Djabi and two others. Djabi and the co accused are charged with twenty counts, The Fatu Network
