-- As US$8M bond reportedly Backfires
Former Finance Minister Samuel D. Tweah faces potential arrest despite posting a US$8 million property bond, as concerns have been raised regarding the validity and sufficiency of the bond.
State prosecutors, who filed a notice of exception, have challenged the legality of the bond, pointing out discrepancies related to the ownership and evaluation of the properties listed in the bond, with one property flagged for an outstanding tax lien.
Moreover, the prosecutors have highlighted that the properties listed may not meet legal standards even if they were properly assessed and unencumbered. Additionally, there are concerns about the bond's coverage, as Mr. Tweah's criminal appearance bond is already being used as surety in another case involving a co-defendant.
"The properties as contained in the statement of property evaluation and the Real Estate Tax Demand Notice and the Real Property Tax Division's state of property evaluation, are purportedly owned by Rudolph S. Cole and Refina J. Cole," the notice of exception filed to the court indicates.
Additionally, the Liberia Revenue Authority (LRA) reports no records to substantiate the ownership or value assessment for the properties listed, specifically property identification number 25115.
Adding to the legal challenges facing Samuel Tweah, prosecutors are seeking to disqualify the property with identification number 33933 due to an outstanding tax lien of US$23,737.80, as per information provided by LRA Commissioner General Dorbor Jallah to Solicitor General Cllr. Augustine Fayiah.
It was revealed that the property's supposed valuation of US$6 million is not registered in the LRA system, with discrepancies noted in the valuation process. Furthermore, there are concerns raised by prosecutors regarding the adequacy of the properties listed in the bond, as well as potential overlap with the surety assets used in another case involving co-defendant Stanley Ford. The prosecution highlighted the need for strict adherence to legal standards and bond requirements in light of the ongoing legal proceedings.
In a communication from LRA Commissioner General Dorbor Jallah to the Solicitor General, Cllr. Augustine Fayiah, it was revealed that "the property with identification number 33933 with property valuation of US$6,000,000.00 does not currently exist in the LRA's system." Jallah outlined additional discrepancies, "It is also observed that the US$6,000,000.00 was initially imputed into the system on February 17, 2023, and attracted a tax bill of US$15,000. It was subsequently voided and reinputted at the value of US$600,000.00 with a tax bill of US$1,500."
Commissioner General Jallah further stated, "Randolph S. Cole and Rafina J. Cole's property is yet to be identified and assessed by the valuation section of the Real Estate Tax Division since it was discovered on February 20, 2023 when the US$6,000,000 was inputted into the system on February 17, 2023."
Moreover, the prosecutors argued that even if the properties were properly listed and unencumbered, they would still not meet legal standards because "the bond ought to be twice the amount embezzled in addition to the maximum number of months of imprisonment multiplied by US$25."
Tweah faces charges of economic sabotage, fraud, and criminal conspiracy related to unauthorized fund disbursements during his tenure as Finance Minister. He has denied these charges, attributing them to what he perceives as politically motivated persecution orchestrated by the Unity Party-led government.
The trial is scheduled to begin on November 12, 2024, with Tweah expressing confidence in the judicial process despite the legal challenges he faces.
Tweah Pleads Innocent
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After weeks of allegedly evading justice after being indicted by a grand jury for corruption, former Minister of Finance and Development Planning, Samuel D. Tweah, returned to the country on Wednesday, September 26, surrendered himself to the court, secured a bail, and has subsequently declared his innocence.
Tweah said he stands firm and resolute to answer to charges of economic sabotage, fraud, and criminal conspiracy brought against him and four other former top officials who served in the immediate past government.
Tweah, in a social media post on Thursday, said that he returned to Liberia to confront the allegations, as he voiced his determination to face the legal proceedings and challenge what he perceives as politically motivated accusations by the current administration.
He affirmed his innocence and emphasized his unwavering commitment to returning to Liberia under lawful circumstances to fight the charges against him.
