The Center for Transparency and Accountability in Liberia (CENTAL) has called for the immediate suspension of Stanley Ford, Director General of the Financial Intelligence Agency (FIA), for his alleged involvement in a corruption scandal.
The call of CENTAL follows a FrontPage Africa’spublication on February 27, 2024 that the FIA, which is mandated to investigate financial crimes, is itself alleged to have been caught in the web of dubious financial dealings and crimes.
The institution also quotes the FPA’s report as sayingthat over US$1 million was disbursed in the name of the comptroller, including over US$500,000 withdrawn on the same day it was transferred by the Central Bank of Liberia.
The Executive Director of CENTAL, Anderson D. Miamen, told a news conference on Thursday, March 28, 2024 in Monrovia that another report placed the total amount involved in the scandal at over US$6 million.
He called for the suspension of Forh and all those at the center of the alleged corruption until the Liberia Anti-Corruption Commission (LACC) completes its on-going investigation into the matter, adding that their continued presence as leaders and managers casts dark shadow over the institution and neutralizes its ability to fight financial and other related crimes.
“However, given the gravity of this corruption scandal and its implications for the work and reputation of FIA and, by extension, the country’s integrity sector, we strongly recommend an administrative sanction, pending the outcome of the on-going investigation,” the CENTAL boss said.
For CENTAL, Anderson D. Miamen emphasized that the reports are not just disturbing but have the proclivity to erode citizens and development partners’ trust in institutions like the FIA, clothed with the authority to fight corruption and other shady financial dealings, including money laundering.
He maintained that, if not properly disposed of, these allegations could hamper the credibility of the institution, including the outcomes of sanctions and other efforts made to enforce their very important mandate.
“For example, fines imposed on insurance companies, banks, gaming companies and other entities for violation of financial procedures could face stiff challenges. Also, responsible institutions might hesitate to make suspicious transaction reports to FIA, as required by its 2022 amended act,” the Executive Director of the institution noted.
CENTAL noted multiple occasions during which FIA sanctioned individuals and institutions accused and investigated for alleged dubious financial dealings and money laundering, similar to that which the current leadership is accused of.
“For example, in 2021, granting a motion filed by FIA, the Presiding Judge of Criminal Court C ordered the proceeds of over US$234,000 confiscated and transferred to the General Revenue Account of Liberia,” the statement from CENTAL read.
According to Miamen, the company at the center of the saga, Korlane Investment Limited Liability Company, and its corporate owners, were investigated by the FIA for alleged wire fraud and money laundering.
“The very FIA with a mandate to fight such a crime cannot be at the center of similar and even more egregious incidents; it thus needs timely and appropriate action from the leadership of the country,” he indicated.
At the same time, CENTAL’s Executive Director Miamen has encouraged the Liberia Anti-Corruption Commission to timely complete her on-going investigation into the matter as well as provide regular updates to the public.
Miamen further urged institutions and individuals leading anti-corruption efforts to set very high standards for others to follow, both in and out of government.
He emphasized that the latest incident at the FIA does not only damage the entity’s reputation but affects the morale of staffs that are working diligently and may sometimes sacrifice to perform their assigned responsibilities.
“President Boakai must act and do so now if stakeholders must have the required level of confidence in and continue to do business with the Financial Intelligence Agency of Liberia,” Miamen stated.