Friday, May 30, 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 UPDATE

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

by Lennart Dodoo
October 4, 2024
in UPDATE
Reading Time: 3 mins read
0
Former Finance Minister Tweah’s $8M Bond in Jeopardy, Risks Arrest

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.

ShareTweetSend
Lennart Dodoo

Lennart Dodoo

Next Post
LPRC Oilers Hold a 35-Year CAF Club Competition Record

LPRC Oilers Hold a 35-Year CAF Club Competition Record

Joel Johnson Returns to Lone Star Squad

Joel Johnson Returns to Lone Star Squad

Discussion about this post

Recommended

Brumskine: ‘Corruption is the enemy within’ — urges judicial integrity at Bar Convention

Brumskine: ‘Corruption is the enemy within’ — urges judicial integrity at Bar Convention

2 months ago
Former Senate Pro Tempore Armah Zolu Jallah sitting at his office desk

Jallah proposes US$10 monthly levy on civil servants to tackle Liberia’s housing Crisis

2 weeks ago

    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