Thursday, May 8, 2025
THE LIBERIAN INVESTIGATOR
No Result
View All Result
  • Home
  • Investigations
  • News
    • National News
    • County News
    • Health
    • Environment
    • Human Interest
    • Press Release
    • Media
  • Politics
  • Business
  • Editorial
  • Commentary
  • Op-Ed
    • Opinions
    • Letters from the Editor
    • Letters to the Editor
  • Fact Checks
  • Lifestyle
    • Entertainment
  • Sports
THE LIBERIAN INVESTIGATOR
  • Home
  • Investigations
  • News
    • National News
    • County News
    • Health
    • Environment
    • Human Interest
    • Press Release
    • Media
  • Politics
  • Business
  • Editorial
  • Commentary
  • Op-Ed
    • Opinions
    • Letters from the Editor
    • Letters to the Editor
  • Fact Checks
  • Lifestyle
    • Entertainment
  • Sports
THE LIBERIAN INVESTIGATOR
No Result
View All Result
Home Business News

CBL Dismisses US$10 Million Scam Allegation by Portuguese National, Cites Fraud Concerns

by Lennart Dodoo
August 26, 2024
in Business News
Reading Time: 2 mins read
0
CBL Dismisses US$10 Million Scam Allegation by Portuguese National, Cites Fraud Concerns

Monrovia – The Central Bank of Liberia (CBL) has refuted claims made by a Portuguese national, Joao Miquel Amaro Correia, who alleges that the Bank failed to transfer US$10 million to him following an agreement he supposedly reached with unidentified Liberian institutions for a real estate development project in Liberia. The CBL described Mr. Correia as a victim of what appears to be a grand scam.

In a letter dated June 26, 2024, Mr. Correia raised a complaint addressed to several government officials and civil society organizations, urging them to investigate two senior officials of the CBL. He accused these officials of refusing to facilitate the transfer of the funds and of engaging in actions that sabotaged the purported agreement.

Following a thorough review of Mr. Correia’s complaint, the CBL highlighted numerous inconsistencies and falsehoods in the allegations. These discrepancies cast significant doubt on the claims made against the two CBL officials. In a lengthy email included in the complaint, Mr. Correia made wide-ranging assertions that, according to the CBL, do not establish a logical basis for his accusations.

The CBL categorically clarified that it does not facilitate payments based on agreements made between private parties or businesses. Furthermore, the individuals named by Mr. Correia as secretaries to the CBL officials he claims to have dealt with are not employed by the Bank. This revelation suggests that Mr. Correia may have been misled into believing he was conducting business with CBL staff.

Moreover, Mr. Correia failed to disclose the identities of the Liberian institutions with which he allegedly reached the real estate development agreement. The CBL argues that this omission, along with other inconsistencies, raises serious concerns about the credibility of his claims.

The CBL reaffirmed its commitment to maintaining secure financial transactions as mandated by Liberian law. The Bank also issued a strong caution to the public, urging them to take precautions against scams and warning against falsely representing oneself as doing business in the name of the CBL.

ShareTweetSend
Lennart Dodoo

Lennart Dodoo

Next Post
Outrage Erupts in Sinoe County Over Alleged Mismanagement of $400,000 in Development Funds

Outrage Erupts in Sinoe County Over Alleged Mismanagement of $400,000 in Development Funds

Liberia vs. World Bank: Who’s Telling the Truth on Debt Default and Fisheries Fund Mismanagement?

Liberia vs. World Bank: Who’s Telling the Truth on Debt Default and Fisheries Fund Mismanagement?

Discussion about this post

Recommended

11 Nyan Scholarship Program Recipients Graduate with Degrees in Professional Nursing, Environmental Science, Midwifery

11 Nyan Scholarship Program Recipients Graduate with Degrees in Professional Nursing, Environmental Science, Midwifery

10 months ago
River Gee to Open First $45,000 Public Library

River Gee to Open First $45,000 Public Library

6 months ago
  • Climate change impact on rice production in Liberia: Case studies of Kpatawee and Gbedin Rice Farms

    Climate change impact on rice production in Liberia: Case studies of Kpatawee and Gbedin Rice Farms

    0 shares
    Share 0 Tweet 0

Connect with us

Home

About Us

Investigations

News

Politics

Business 

Editorial

Contact Us

Privacy Policy

Advertise with us

Stay updated with the latest news by subscribing to our WhatsApp Channel

Click Here to Subscribe

© 2024 THE LIBERIAN INVESTIGATOR, All Rights Reserved And subject to Terms of Use Agreement. 

No Result
View All Result
  • Home
  • Investigations
  • News
    • National News
    • County News
    • Health
    • Environment
    • Human Interest
    • Press Release
    • Media
  • Politics
  • Business
  • Editorial
  • Commentary
  • Op-Ed
    • Opinions
    • Letters from the Editor
    • Letters to the Editor
  • Fact Checks
  • Lifestyle
    • Entertainment
  • Sports

© 2023