Man claims bank stole his millions - Says nearly $4 million missing from account

August 08, 2017

Nearly $4 million has reportedly gone missing from the bank account of a man who the Government was forced to pay almost $8 million for miscarriage of justice.

Michael Stewart, 54, said he discovered that the money he deposited in 2009 was missing when he visited the bank on September 2, 2012. He said that he has made several attempts to get back his money, but he has been unsuccessful in his efforts.

He told THE STAR that he deposited $3.8 million in an account at one of the country's financial institution, but the money has vanished, without a trace.

"Mi have half a million weh mi a live off cause me know $3.8 deh inna fix deposit. When the half a million done, I go back to the bank ... and I said, how can I get my money and him say my money done," Stewart said.

Stewart insists that he has never withdrawn any of the money. He said that all he did was transfer it from a savings account to a fixed deposit account.

Stewart said that was the only time he signed documents agreeing to the removal of his money from any account.


Great injustice


He told THE STAR that his attempts to have the bank rectify the situation were unsuccessful, so much so that he had to hire an attorney-at-law.

"Me go deh and dem a say a me draw it. Somebody collect it on da day deh. As me come out of the bank, dem go close the thing [account] and Fraud Squad or nobody can't arrest nobody," Stewart said.

"Me need fi get back my money from the bank. This is great injustice. How a man fi open a fixed deposit weh valued for six months and it draw the same day?" Stewart asked.

"Mi think when mi put it up, a for mi pickney dem. Dem a 25 and 24, and me can't even give my kids a biscuit. Somebody carve out the money me put down fi mi pickney dem and a talk bout a me spend it," an angry Stewart told THE STAR.

When our news team contacted the bank we were told that the manager was on vacation leave and was the only person authorised to speak on the matter. However, a letter written by the bank's manager to Stewart's attorney on August 31, 2011 indicates that $3.8 million was deposited in the fixed deposit account on March 19, 2009 and that that when the money was withdrawn six months later it yielded more than $158,000 in interest.

The matter, however, is far from resolved as it is the subject of an investigation by the Fraud Squad.

Stewart stumbled upon his million by way of misfortune. He was compensated by the state after being imprisoned for eight years, and had to wait for five years before an appeal was heard.

He was awarded nearly $8 million after the court ruled that he suffered a miscarriage of justice at the hands of the State. Stewart was arrested in 1993 for sacrilege and sentenced to eight years. In 2002, the Court of Appeal ordered his immediate release from prison after it found that he had been in prison for five years awaiting his appeal.

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