6 March 2019

Liberia: Weeks, Sirleaf Indicted

Photo: Central Bank of Liberia
The Central Bank of Liberia building.

The Government of Liberia through the Grand Jury of Montserrado County has finally indicted former Executive Governor of the Central Bank of Liberia Milton Weeks, Deputy Governor Charles Sirleaf, Dorbor Hagba, Richard Walker and Joseph Dennis.

Three of the defendants including Weeks, Sirleaf and Hagba were remanded at the Monrovia Central Prison Monday, March 4, 2019 after they failed to file valid criminal appearance bond.

Weeks, Sirleaf and Hagba spent their second night at the Monrovia Central Prison last night as they could not file L$5 billion bond.

The defendants have been charged with Economic Sabotage, Criminal Conspiracy, Misuse of Public Record, Criminal Facilitation, among others.

According to the indictment, the defendants conspired to commit the crime of Economic Sabotage, a felony of the first degree in flagrant violation of chapter 15, sub-chapter "F", sections 15.80(a)(b)(c), 15.81(a)(b)(c) and 15.82(b)(c) of the new penal law of Liberia.

The indictment further noted that the defendants by virtue of their employment and positions within the CBL, intentionally colluded and conspired and defrauded the Bank particularly the Government of Liberia by printing excess Liberian dollar banknotes amounting to 2,645,000,000 and US$835,367.72 to be paid for the cost of printing the money without authority to infuse said amount into the Liberian market.

The indictment said the CBL at the same time provided false information and reports on the actual quantity of the money printed, supplied and delivered by the company (Crane currency).

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