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NASSIT Illegal purchase: US$2.5MILLION ON EDWARD DAVIES ESTATE

Lawyer Sengu Koroma’s report on the illegal purchase of the late Eward Davies Estate,(Known as Edward Davies Associates) showed the level of collusion that the Directors of NASSIT in collaboration with a front runner of the deal, “a so-called man of God named Paul Kamara” were involved in, which has caused the Trust to part with a whooping sum to the tune of US$2.5Million, about 80% of the value estimated at the time.

In the report, Lawyer Sengu claimed that the Trust negotiated for and purchased the building at 11, Charlotte Street at a cost of US$2.5Million, which was done after an extensive due diligence by the External Solicitors and assessment of the building and its cost by Architects and Quantity Surveyor had been done.

The truth about the purchase Lawyer Sengu Koroma had kept under the carpet, because he fears that fingers would to be pointed at him when the sleeping Anti Corruption Commission springs on his colleagues. Probably, he thought that he too would be dragged into the net, for not properly and legally proffering the relevant advice for the Trust money not to be wasted.

What the former Director, Legal Affairs and Board Secretary had kept under the carpet is gradually coming into the public domain as some members of the Edward Davies family are now challenging the purchase  and calling it “fraud and dishonesty”. The building was not meant to be sold or bought by any member of the public or institution as documented by the late Edward Davies in his “WILL” but should be left to service the Science Department of the University.

The late Edward Davies was an Engineer by profession and during his life time had donated the building to the Science Department of the University, and proceeds from the building are lodged into an account at the Standard Chartered Bank meant for the Department.

After his death the status quo changed by a group of money- hungry- relatives with no legal standing to sell the property.

He had no children, but his passion to contribute to the educational standard of the country and specifically the Science Department moved him to donate one of his Estates to the Department, excluding those he had and left behind at Lab Lane. There were two senior colleagues of the deceased appointed as Executors of his Estate. The two according to family sources had a quarrel that landed them in the courts, later one of them passed away; leaving the other.

But the deal on what could be referred to as the Science Department Building on 11, Charlotte Street was done allegedly without the involvement of the surviving Executor, but by one of the adopted child of the deceased.

A Letter of Administration was obtained from the Office of the Administrator and Registrar General by the adopted Child, which motive was established after the sale of the property. Most of the family members are now challenging the sale, which they said was done against the will of the dead by an illegitimate child.

The fore-runner of the deal, Pastor Paul Kamara who thought that selling the Estate of deceased persons has no effect on him is getting serious problems to convince tenants currently occupying the building to quit. NASSIT Directors though had already secured their own “cut” from the initial payment made are also insisting that until possession is giving to them of the property the Trust cannot pay the remaining 20% left. Sources say the Trust has not been able to secure a conveyance, transferring the property to NASSIT.

Several pleas have been made to the current occupants of the building who are insisting that the purchase of the property was done illegally and it is big loss to the Science Department of the University, which the late Edward Davies had stated in his “WILL” prior to his death to benefit from the property. It should be rented out and the proceeds go towards the contribution and development of the Department. In making a brief comment about the purchase, Lawyer Sengu Koroma said “The remaining 20% will only be paid after vacant possession is given to the Trust”. Having mentioned that, he went on to shower praises on the External Solicitors of doing a good job.

The question is, how the External Solicitors did a good job, when NASSIT is getting tough time to secure possession of the property to the extent of offering bribe to the occupants that had been flatly refused.

The talk about undertaking investments on behalf of the contributors has reached a point that should warrant the attention of President Koroma to demand from NASSIT a list of both viable and non viable investments of the Trust. Huge amounts of money had gone down the drain in the name of investments and some can hardly be recovered now or in the future. Not only the Estate of Edward Davies that can be categorized as a bad investment, but also those investments relating to lands, hotels such as the Kimbima, ferries and more.

The future of the contributors to the Trust is hanging on a very thin line, if the necessary actions are not taking now.

 

Posted by on 10:56 pm. Filed under Breaking News, NEWS, ONE ON ONE. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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