International Bank-Liberia Uncovers Huge Revenue Fraud U$178,862
The International Bank, Liberia Limited (IBL) has disclosed to the public of an attempt to defraud the Liberian government and people, through a number of transactions totaling over U$179, 000 in revenue losses. The disclosure was made when IBL alerted the Liberian Revenue Authority (LRA) of the purported Manager's check made out to a private party, MNG Gold. According to the report, the actual amount of US$179,101.39 was to be withdrawn from the General Revenue Accounts of the Liberia Bank for Development and Investment (LBDI).
In a confirmation to Wish News Network (WNN), a spokesperson at LRA said, that the alleged fraudulent check was altered to read "H. General Merchandise Account," hence was deposited into LBDI's H. General Merchandise Account. However, the LRA spokesperson further confirmed, that although the Comptroller of MNG Gold had earlier informed the LRA of said transaction, at the close of the transaction, only US$239 reflected as the total transaction amount between the Republic of Liberia and MNG Gold. When contacted, the Comptroller of MNG Gold disclosed to WNN, copy of the same revenue receipt within LRA's accounting system, but with the amount of US$179,101.39 as the actual transaction figures.
Our investigative team further reported that Alvin Johnson who oversees LBDI's H. General Merchandise Account was nabbed by the Liberian National Police Anti Fraud Unit at his 9th Street office, while he Johnson was attempting to withdraw US$20,000 from the same H. General Merchandise Funds. According to our reporters, the LRA has placed two of its employees on administrative leave, pending further investigation of this matter. Meanwhile, the Central Bank of Liberia (CBL) was requested to withdraw the teller who allegedly prepared the questionable receipt for MNG Gold. All attempts to reach Alvin Johnson and other alleged parties by our reporters, proved futile.
Meanwhile, the LRA is said to be cooperating with the Liberia National Police to identify and prosecute all potential perpetrators, including the registered holders of the H. General Merchandise account into which the MNG tax payment was diverted.
Our team of investigators has further established that the manager of Logistics and Procurement of MNG had informed the LRA of a Manager's Check obtained from the IBLL in favor of the General Revenue Account as payment of its withholding taxes for the month of November, and was given to the company's Logistics Officer/Expeditor for payment at the LRA.
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