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Swedish investor Martin Karlsson has reportedly lost $15 million in a real estate development scam allegedly orchestrated by his Sierra Leonean business partner, Paul Bindi.
Karlsson, who aimed to contribute to Sierra Leone’s development through his investment, partnered with Bindi, believing in his local connections and expertise.
However, investigations revealed that Bindi allegedly misappropriated funds, sold off properties from the Matormeh Village project without authorization, and transferred money into his personal accounts.
This is not Bindi’s first encounter with fraud allegations, as he previously escaped legal consequences after embezzling $125,000 from Sierra Leone Commercial Bank. Bindi allegedly used forged documents and fabricated progress reports to deceive Karlsson, whose suspicions led to an audit that uncovered the scam.
Despite overwhelming evidence, Bindi has vowed to contest the accusations in court. The scandal has raised concerns among foreign investors and underscored the need for stricter business regulations in Sierra Leone.
Clap for yourself Bindi 👏🤪
Bindi is protected by people in power.