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The Global Times has been reliably informed that, Modcon Construction Company is to be investigated by the ACC (Anti Corruption Commission) for allegedly failing to pay GST (Goods and Services Tax) deducted from payment made to the company by NASSIT for the construction of the Bo Plaza in Bo City. The contract was for US$4m (Four Million United States dollars).

The company at the center of the scandal (Modcon Construction Company) has been embroiled in series of financial mismanagement scandals leading to the dismissal of its Managing Director and Shareholder, Mustapha Zayat. The company has instituted legal action against Mr. Zayat in the Freetown High Court.


The company’s Chairman and Shareholder, Mr. Bassam Ghoussoub denied that his company has defrauded the National Revenue Authority (NRA) in GST payments.

Mr. Ghoussoub showed documents to the Global Times, indicating payments made to NRA in respect of GST.

But the Global Times could not ascertain whether those payments were made in respect of the contract for the construction of the Bo Plaza.

A senior NRA official told the Global Times last night that, the matter will be referred to the ACC (Anti Corruption Commission) for a thorough investigation. “We don’t normally take these issues lightly…We will invite the ACC to look into such serious allegations and take appropriate measures to recover any outstanding payments due the Authority”, the NRA official told the Global Times last night.

A spokesman for the ACC (Anti Corruption Commission) told the Global Times last night that they were prepared to look into the matter and any other matter if there “is any element of corruption or tax evasion”.

Mr. Mustapha Zayat declined to comment on the issue claiming that, even though he was the company’s Managing Director, he had no access to its bank accounts.

It is not yet known whether or not Mr. Bassam Ghoussoub is prepared to make a full disclosure about the company’s bank accounts since 2001, as requested by the Lebanese Community in order to resolve the impasse between him and Mr. Zayat.

Investigations into how Leocem awarded a huge contract to a company that Mr. Ghoussoub claims to be representing continues.


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