Published: October 8, 2024
Monrovia – In a case that raises serious concerns about the protection of foreign investments in Liberia, French national Anthony Bianchini, President of Swiss Metal Trust Commodity Inc., has accused his business partner, French investor Bertrand Franquet, of orchestrating an unlawful takeover of their mining project in River Gee County. The conflict, which has involved police intervention and alleged coercion, has thrown the future of the mining venture into uncertainty.
Bianchini, who established his company in Liberia in 2022 and previosuly held 100% ownership, said the partnership with Franquet began earlier this year. Introduced through a mutual contact, Bianchini and Franquet entered into an agreement in March 2024, where Franquet committed to funding the project with a significant investment. In exchange, Bianchini agreed to transfer 50% of his shares to Franquet.
However, the relationship has since soured, with Bianchini alleging that Franquet has attempted to seize control of the company and its assets, violating the terms of their contract. “What began as a promising business partnership has turned into a nightmare of legal battles, police intervention, and threats to my personal and professional safety,” Bianchini stated.
Dispute Over Funds and Project Control
The dispute reportedly intensified after Franquet deposited $350,000 into the company’s bank account, exceeding the agreed amount of $200,000. According to Bianchini, Franquet’s actions deviated from their original agreement, though he did not initially raise the issue. The funds were used to kickstart the mining project in River Gee, where Bianchini had developed strong relationships with local leaders in the CHEF-DOM community, which includes Tarken, Pronken, Suweken, and Tartuken.
Despite progress in securing class-C mining licenses through a local partner, Garel Sossa Sackor, the partnership took a turn when Franquet allegedly froze the company’s bank account in early September without notifying Bianchini, effectively stalling the project. Bianchini claims that Franquet did not have the legal authority to take this action and was acting outside the scope of their agreement.
Police Involvement and Alleged Coercion
On September 15, 2024, the conflict heightened when Bianchini was taken to a police station in Monrovia. According to him, a group of police officers arrived at his home and escorted him to the station, where he was confronted by Franquet, Franquet’s wife, and two other individuals, whom he described as being of Senegalese origin with strong ties to the Liberian presidency.
“I was subjected to verbal abuse and threats of imprisonment,” Bianchini recounted, alleging that the police pressured him to make statements under duress, even though no formal charges were brought against him. He claims that he was forced to pay US$700 to secure his release.
The following day, Bianchini was summoned again, this time to a different office, where the same group of individuals, including police officers, were present. According to him, he was pressured to hand over company assets and control of the mining project to Franquet’s associates. “They demanded that I sign over 85% of my company shares and allow them to take full control of the business,” Bianchini said, adding that he refused to sign any documents.
Takeover of Assets and Continued Intimidation
Bianchini also alleges that Franquet’s associates have taken physical control of his office, home, and company operations in Liberia. “They entered my house and told me they would be staying there from now on. They also took possession of the office and have taken over management of the project,” he said. Franquet’s associates reportedly demanded that Bianchini sell a small amount of gold the company had mined, seizing the proceeds from the sale.
Bianchini claims that Franquet left Liberia shortly after these events, leaving full power to his Senegalese associate, who Bianchini describes as aggressive and coercive. “I no longer feel safe. Every day the pressure increases, and I fear for my personal safety as well as the future of my business,” he said.
Future of the Mining Project in Jeopardy
The conflict has put the entire mining project in jeopardy, with local leaders in River Gee expressing concern about the project’s future. Bianchini had established good relations with the local communities, and the mining venture was seen as a potential source of economic development in the region.
“We had the full support of the community, and everything was on track for the project to move forward,” Bianchini explained. “But this conflict has halted progress, and now the future of the project is uncertain.”
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