OVER $ 800,000 FRAUD
…MAFIA SAHR NGEGBA IN COURT
By Ibrahim Alusine Kamara
The name Sahr Ngegba is fast becoming synonymous to fraud as everything he touches usually ends up in criminal racketeering
He is said to have duped many innocent people including business partners, governments, of millions of dollars anytime he goes into business dealings with them.
There seems to be no end in sight to Sahr Williams Ngegba’s racketeering enterprise with one fraud after the other.
Currently, Sahr Ngegba’s Mars Investment Company is standing trial at the Fast Track Commercial Court after he alleged syphoned over $ 800,000 from a boat contract he signed with Randlyn Holdings.
According to the court proceedings, Mars Investment was entrusted with four boats belonging to Randlyn Holdings to be managed and controlled with specified amount to be paid quarterly.
However, being the mafia he is, he did not only fail to pay the amount owed but went as far as cannibalizing three of the boats while converting the other one to his personal advantage, thereby breaching the contract he signed.
Such has been the modus operandi of Sahr Ngegba, who would enter into agreements, using portfolio companies and later ends up duping unsuspecting innocent investors, individuals and governments.
This, therefore lends credence to the GTT findings, which implicated him for defrauding the Sierra Leone Government of over ten million dollars when his Transport and Ports Management System (TPMS) West Africa Ltd. and Global Transport and Maritime Solutions (GTMS) was in charge of tracking goods coming to and from Sierra Leone through our seaport.
An investigation conducted into the running of the sea port found that the company responsible for tracking goods at the sea port has colluded with ministers and officials to defraud the state.
Sahr Ngegba’s Transport and Ports Management System (TPMS) West Africa entered into an agreement with the government in November of 2014 to track and monitor all cargoes brought into and leaving the port of Sierra Leone.
The company was contracted to improve the efficiency and effectiveness of the Sierra Leone Ports Authority in its non-core activities.
The company levies import and export fees on every cargo, with a schedule of payments set into the contract. The company was to keep 60% of this and Government was to be given 40%.
TPMS should have deposited into Government’s Consolidated Fund $10,990,216 USD and in 2018 the amount would have been $4,036,068 USD. The company was to pay penalty charges of 12% on payments to the Government.
Sadly, since the signing of the agreement in 2014, official records show that TPMS paid only $1 million USD while the millions of dollars remained unaccounted for.
‘’Since the contract was signed, TMPS has not honoured its responsibility under the contract to provide Global Tracking & Maritime Reports to GoSL and NRA, amidst reports of under-invoicing of shipping items or goods, resulting in significant loss of revenue by Government’’ The GTT Report stated.
Furthermore, Sahr Ngegba was also accused of stealing over $ 500,000 government funds lodged at Ecobank Sierra Leone in 2018.
As if that was not enough, Sahr Ngegba is accused of replicating the same racketeering in Liberia where he is now been hunted by the government for his fraudulent activities.
His business partners, are said to also be on the hunt for him after he allegedly made away with millions of dollars from a joint-account they had in Liberia.
Meanwhile, Sahr Ngegba could not deny or confirm the allegations when contacted over the phone.
More in subsequent edition…