Former Finance Minister Tweah’s $8M Bond in Jeopardy, Risks Arrest

Published: October 4, 2024

MONROVIA – Former Finance Minister Samuel Tweah might still face arrest despite posting a US$8 million property bond, as state prosecutors have identified several defects with the bond, rendering it potentially invalid and insufficient for securing his freedom.

The state prosecutors have filed notice of exception challenging the legality of the bond, citing 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.” Further compounding the issue, the Liberia Revenue Authority (LRA) reports no records to substantiate the ownership or value assessment for the properties listed, specifically property identification number 25115.

Adding to Tweah’s troubles, one of the properties, the prosecutors are seeking the disqualification of the property with identification number 33933 due to an outstanding tax lien of US$23,737.80, as revealed by the LRA.

In a communication from LRA Commissioner General Dorbor Jallah to the Solicitor General, Cllr. Augustine Fayiah, it was 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.” Jallah detailed further discrepancies, noting, “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.”

Commissioner General Jallah further stated, “Randolph S. Cole and Rafina J. Cole’s property is yet to be indentified 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.”

Moreover, the prosecutors argued that even if the properties were properly listed and unencumbered, they would still not meet legal standards because “the bond ought to be twice the amount embezzled in addition to the maximum number of months of imprisonment multiplied by US$25.”

Another point of contention raised by the prosecutors concerns the overextension of the bond’s coverage, as Mr. Tweah’s criminal appearance bond was already serving as surety in another case involving co-defendant Stanley Ford. They stated, “The obligors under Mr. Tweah’s criminal appearance bond was earlier filed by co-defendant Stanley Ford as criminal appearance bond.”

The trial is set to commence on November 12, 2024. Tweah surrendered himself to Criminal Court ‘C’ last Wednesday where he was granted the US$8 million criminal appearance bond. At the court, he expressed confidence in the judicial system.

Also, addressing supporters over the weekend at the CDC headquarters, Tweah claimed the charges were part of a politically motivated “witch-hunt” orchestrated by the Unity Party-led government. “What they want is the optical imagery of Samuel Tweah in handcuffs,” he argued, stating that the legal actions are designed more to harm his reputation than to address any substantive legal wrongdoing.

Tweah faces charges from the Liberia Anti-Corruption Commission (LACC), including economic sabotage, fraud, and criminal conspiracy related to unauthorized fund disbursements while in office.

He, along with former National Security Advisor Jefferson Karmoh and ex-Solicitor General Cllr. Nyanti Tuan, is accused of diverting substantial funds from the Financial Intelligence Agency (FIA) meant for national security and financial oversight.

The accusations, investigated by the Liberia Anti-Corruption Commission (LACC), allege that more than L$1 billion and US$500,000 were illicitly transferred under the former finance minister’s authorization without proper approvals from Liberia’s National Joint Security or the National Security Council. Court documents reveal that these funds were rapidly withdrawn by D. Moses P. Cooper, then Acting Financial Controller of the FIA.