Legal news update

Alleged Fraudster Confesses to Falsifying CPOs

Alleged Fraudster Confesses to Falsifying CPOs.

Source: Fortune

Ibrahim Taha confessed to presenting falsified certified payment orders (CPOs) to the Privatisation and Public Enterprises Supervising Agency (PPESA) for the purchase of Hawassa Textile Factory and Arbaminch Textile.

He did this to buy time until the 45.5 million Br loan he requested from Awash International Banks (AIB) Sierra Leone Street Branch was extended to him, the defendant claimed in an admission that surprised the court on June 7, 2011.

Ibrahim, 32, is accused of presenting 19 million Br in falsified CPOs to the PPESA for the 35pc down payments for the two companies on January 31, 2011.

Along with his co accused Moges Getahun and Dereje Michael, Ibrahim had pleaded not guilty and requested bail bonds in the first hearing on March 21.

Ibrahim, who is facing charges of fraud in two other cases pending at the Federal High Court, Fifth Criminal Bench, and the Arada First Instance Court, was granted a bail bond of 100,000 Br by the Federal High Court, 13th Criminal Bench.

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