The trial of four former senior officials of Chase Bank continued, with the court hearing details of multi-million dollar transactions involving the lender.
During cross-examination led by defence counsel Cecil Miller, a prosecution witness confirmed that two transfers made in June 2015 amounted to a combined USD 4.8 million, which was sent from Chase Bank to Deutsche Bank Trust Company Americas.
Miller guided the witness through transaction records, which showed that the funds, sent on June 16 and June 18, 2015, were later reflected in documents indicating a return transfer dated July 21, 2015.
While responding to questions, the witness stated that “the documents show the transfer of funds from one bank to another bank,” but added that he could not independently confirm whether the money was returned, as the documents had not been available during the audit.
The court also heard that the witness had not requested or reviewed the transaction documents at the time of conducting the audit, a point raised during the defence’s questioning.
In another exchange, the witness acknowledged that “it’s not a criminal offence” to obtain a loan from a bank, including an unsecured one or to use such funds for investments.
Further testimony pointed to inconsistencies between the amounts cited in court and those contained in the charge sheet, with the witness confirming there was a variance in the figures.
The proceedings continue, with the court expected to hear more evidence as the case unfolds.
