14 January 2013

Liberia: Swiss Rice Firm Linked to Dirty Deal

The Director of Rice Division at Louis Dreyfus Commodities, a Swiss rice firm, is reportedly using Liberia, Ivory Coast, Senegal and other African states to do money laundering by exporting non-marketable rice in these countries, pricing it lower than the official price, and keeping it in warehouses until it spoils to get huge amount of money from the insurance companies.

Speaking to this paper, some local rice importers confirmed the deal by Mr. Guy Demontule, who they claimed, have been doing this for so many years. "This man is for instance obtaining prices through his partner in Liberia, a local rice dealer; he gets a price from the price analysis division here, and sells four dollars below cost price. He brings huge quantity of white rice that is not marketable on the Liberian market. This is how tens of thousands of rice get spoiled in the warehouses to collect insurance," the local importers averred.

Local importers of rice said that the Director of rice division at Louis Dreyfus Commodities, Guy Demontule, "operates in similar manner in Ivory Coast, Senegal and other African states. In return he gets cut from his allies and the insurance and shipping companies.

It is not yet known if the Swedish company is aware of the deals of its Director of rice division, but it is being revealed that he has been doing this with some former heads of state in Africa as a means of camouflaging their wealth earned to detriment of the people.

Guy, according to local importers who talked to this paper, is engaging the company in multi-million dollars losses for his own benefit and motives. "The corporation might not be aware of the rice stock financial position because he is in the habit of modifying the financial statement. He has always promised the authorities of the company that he is going to obtain the monopoly, something he knows he cannot get. He was involved in false monopoly and tax evasion with two African former heads of state," they further averred.

Meanwhile, Guy, when contacted regarding the claims, he said he has no comment.

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