Judge Blamo Dixon may revoke former Finance Minister Samuel Tweah's bail today if Criminal Court 'C' finds his US$800M property valuation bond defective. The Liberia Anti-Corruption Commission (LACC), which is prosecuting Tweah and his co-defendants, has challenged the bond, citing several identified defects that could render it invalid and insufficient.
Tweah, accused of economic sabotage, along with co-defendants, faces scrutiny over alleged fraudulent activities. The prosecution questions the validity of the properties listed in the bond, raising concerns about ownership and assessed values.
However, Judge Blamo Dixon had recently granted bail to the former minister, who surrendered himself over to the court, immediately after returning to the country, on September 25, 2024, through the Roberts International Airport.
Amid allegations of unauthorized fund transfers, the LACC investigation points to discrepancies in financial transactions involving the defendants. Co-defendant Tweah's involvement in the alleged illegal transfers to the Financial Intelligence Agency (FIA) is under scrutiny, with concerns raised about the accountability of the disbursed funds.
Tweah, as "mastermind" of the alleged scam, along with Cllr. Nyenati Tuan, then Acting Minister of Justice and Acting Chairman of the National Joint Security; Stanley Ford, former Financial Intelligence Agency (FIA) Director General & member Joint Security Council, and D. Moses P. Cooper, former Comptroller, FIA, in the discharge of their duties as officials of the National Joint Security of Liberia and the Financial Intelligence Agency, did conspire, collude, facilitate and commit the Crime of Economic Sabotage (Fraud on the internal revenue of Liberia; Misuse of Public Money, Property or Record and Theft and/ or illegal disbursement and expenditure of public money.
The court, reliant on bank statements and transaction records, is examining the flow of funds and potential breaches of financial regulations. The investigation aims to establish the validity of financial actions undertaken by the accused officials during the specified period.
The LACC's lawyer, who prayed Judge Dixon to grant the plea, claims that 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."
According to them, the Liberia Revenue Authority (LRA) reports no records to substantiate the ownership or value assessment for the properties listed, specifically property identification number 25115.
The prosecutors argue that one of the properties of the band with identification number 33933 owed outstanding tax lien of US$23,737.80, according to the LRAs reports.
LRA's Commissioner General Dorbor Jallah 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."
"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," the Commissioner noted.
Jallah alleged: "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."
The court's document alleges that, between September 8-21, 2023, from transfers instructions documents submitted to the LACC Investigation by the CBL, it shows that the total amounts transferred to the Operational accounts of the FIA by the CBL as per the instruction from the MFDP are L$1,055,152,540.00 and US$500,000.00.
That, though Co-defendant Samuel D. Tweah, then Minister of Finance and Development Planning (MFDP), was a member of the National Security Council, the Investigation did not establish any proof of documentary evidence such as Instruction from the National Security Council, or letter of request from the National Joint Security or the FIA to Co-defendant Tweah for which he (defendant Tweah) approved and subsequently ordered the transfer of the above mentioned amounts to the FIA account.
That Tweah, in the discharge of his duties as then Minister of Finance and Development Planning (MFDP), knowing full well that the amounts L$1,055,152,540.00 US$500,000.00 were never requested for by the National Joint Security, nor the National Security Council; and which were never authorized, but willingly conspired with Cllr. Nyenati Tuan, then Acting Minister of Justice, and Acting Chairman of the National Joint Security, thus causing the illegal transfer of the amount mentioned supra to the operational accounts (USD & LRD) of the Financial Intelligence Agency (FIA); and which cannot be accounted for.
That, on September 22, 2023, analysis of the Bank Statement of the FIA's United States Dollar Operational account (A/C #: 1502021605) held at the CBL shows that the Management of the CBL transferred the total amount of US$500,000.00 to the said account of the FIA as per the instruction from co-defendant Samuel D. Tweah, then Minister of Finance and Development Planning; and that on the same day (September 22, 2023) the said amount (US$500,000.00) was withdrawn by D. Moses P. Cooper, then Acting Financial Controller of the Financial Intelligence Agency (FIA).
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
That between the period September 8-21, 2023 thereabout, analysis of the Bank Statement of the FIA's Liberian Dollar Operational account (A/C #: 1501008108) held at the CBL shows that the Management of the Central Bank of Liberia (CBL) transferred the total amount of L$1,055,152,540.00 to the said account of the Financial Intelligence Agency (FIA) as per the instruction from the Minister of Finance and Development Planning (MFDP); and that between the periods (September 11, 2023-October 17, 2023) the total amount of LS1,055,145,040 was withdrawn by Co-defendant D. Moses P. Cooper, then Acting Financial Controller of the FIA) thus leaving a difference of L$7,500.00.
The ongoing legal proceedings emphasize the need for transparency and accountability in financial governance, especially concerning public funds and government agencies. The court's meticulous review of the financial transactions will determine the accountability of the accused parties and ensure adherence to legal and ethical standards in financial management.
