Liberia: Afriland Bank Staff Charged in $165k Fraud Case

10 September 2025
The Liberian Investigator (Monrovia)
By Garmah Lomo

MONROVIA — Two employees of Afriland First Bank Liberia Ltd. have been arrested and charged in connection with what investigators describe as a wide-ranging financial crime scheme that allegedly defrauded customers and companies of more than US$165,000.

At the center of the case is G. Rufus Togba, 38, a former branch manager accused of exploiting his position to orchestrate unauthorized withdrawals and fraudulent transfers. A charge sheet filed by the Liberia National Police's Financial Crime Investigation Division (FCID) lists counts of theft of property, criminal conspiracy, criminal facilitation, and money laundering.

The case began after Afriland Bank's CEO, Robert Nkous, filed a complaint on Nov. 22, 2024, alerting authorities to suspected fraudulent activity. The bank later submitted further evidence showing several corporate clients had been affected, including Associate Builders & Contractors, GEOSKOPE Ltd., and MY Sportswear.

Togba was arrested on Dec. 16, 2024, by Chief Inspector Michael C. Swen and is charged under case number CSD/FCID/0028/05/25. He remains in custody as prosecutors prepare their case.

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Bank Oversight Under Scrutiny

Investigators say Afriland First Bank maintained a strict credit committee system that required senior officials, including the CEO, to approve all transfers from collateral accounts. Each transaction demanded formal sittings, documented minutes, and due diligence confirming loan obligations had been met.

Authorities are now probing whether these safeguards were bypassed or compromised, raising questions about oversight and the execution of contracts tied to public funds.

Wider Scheme Uncovered

The investigation also uncovered a separate theft of US$100,000, allegedly involving a wider circle that includes Jimmy Elomo, Samuel Dewalt, and others. Some suspects, such as Abdul Wase Jah Jr., Titus Weah Yomi, and Seh Octabious, have been charged in absentia and remain at large.

Police say evidence against certain individuals, particularly in the GEOSKOPE-linked transactions, remains insufficient to file charges, leaving parts of the case open.

The FCID charge sheet was signed by senior officers, including CIP Michael C. Swen, ACP James H. Deshield III, and DCP G. Alvin James, underscoring what officials describe as a high-priority prosecution.

As the case heads to court, it is expected to test Liberia's banking oversight systems and add momentum to the government's anti-corruption campaign.

Read the original article on Liberian Investigator.

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