Indicted CBL Officials Scheduled For Court Hearings In May

Liberia’s Justice Minister, F. Musa Deam

Five former and current officials of the Central Bank of Liberia (CBL), who were arrested, charged and indicated by the Government of Liberia for their roles in the missing L$2.6 billion have been scheduled to appear before Criminal Court “C” at the Temple of Justice during the May Term of Court.

This was disclosed by Justice Minister Frank Musah Dean on Thursday at the Ministry of Information regular press conference held at the Ministry of Justice in Sinkor.

It can be recalled that the defendants were arrested by Police following the release of two reports by the Presidential Investigations Team (PIT) and the USAID-funded Kroll Associates into the scandal involving an alleged missing L$16 billion.

The final report by the PIT and Kroll Associates revealed that there was no missing L$16 billion, but, however, exposed a trail of discrepancies leading to the printing, shipment and delivery of the nation’s legal tender.

Former CBL Executive Governor Milton A. Weeks; Deputy Governor for Operation, Charles E. Sirleaf; Director for Finance, Dorbor M. Hagba; Director for Operation, Richard H. Walker and Deputy Director for Internal Audit, Joseph Dennis, were the five CBL officials who were arrested, charged, and indicated by the Government of Liberia for their roles in the missing money case.

Dean stated that the five CBL officials, who were indicted on charges of Economic Sabotage, Criminal Conspiracy and Criminal Facilitation, have been released on bail in keeping with the law of Liberia and are set to appear before Criminal Court “C” during the May Term of Court.

According to the investigation by PIT, an excess amount of L$2.645 billion of the total amount printed by the CBL could not be accounted for by the defendants, adding that out of deception, the perpetrators criminally converted said amount to their personal use.

As cited in the writ of arrest, during the periods 2016 to 2018, co-defendant Sirleaf, while serving as acting Bank Governor, conspired with other officials of the CBL and the co-defendants all of whom intentionally printed and caused the printing of excess Liberian dollars.

Said action on the part of the defendants, the writ indicated, has the propensity to cause serious economic instability, undermine the government and cause citizens to rise up against it.

It described the alleged act of the defendants as being unlawful, wicked, illegal, criminal and intentional and, as such, a violation of the laws of the Republic of Liberia to included sections 15.80, 15.81 and 10.4 of the revised Penal Law of Liberia.

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