Liberia Govt Drops Charges against Crane Currency Paving Way for Printing of New Money

Jan 13, 2020

The Government of Liberia will no longer pursue criminal charges against Crane Currency and has, in fact, said the company was honest in its dealings with the Central Bank of Liberia (CBL), and acted within the laws governing the CBL.

FrontPageAfrica has been able to obtain a letter written by the Justice Minister/Attorney General, Cllr. Frank Musah Dean, acknowledging that the company did no wrong in the execution of the two printing contracts awarded by the CBL.

“Having reviewed information additional to that contained in the Kroll and Presidential Investigation Term (PIT) reports, including the detail of packing lists, air cargo manifests and airway bills, the Government of Liberia accepts Crane Currency entered into contracts with the Central Bank of Liberia in good faith, in reasonable reliance on the Bank’s lawful authority. The Government of Liberia further accepts that Crane Currency acted in good faith throughout the execution of two (2) banknote printing orders of the Central Bank of Liberia in 2016 and 2017,” Cllr. Dean stated in the letter.

The letter which is dated January 10, 2020 was addressed to Mr. Peter Brown, Crane Currency’s Acting Commercial Director for Africa and the Middle East.

‘Honest In Its Deals’

Crane was drawn in the L$16 billion fray when the Presidential Investigation Team (PIT) in their investigative report stated that CRANE which was contracted by the CBL in two separate contracts to print banknotes totaling L$15 billion at the cost of US$15,331,689.20 conspired with officials of the CBL to defraud the Government of Liberia by ignoring the terms and conditions of the contract and went ahead to print L$18,151,000,000 in breach of the contract. The Government of Liberia incurred an extra printing cost of US$835,367.78.

The company was then indicted by the government for criminal conspiracy, money laundering and economic sabotage.

But, in a somersaulting move, the Justice Minister said after a careful review of both the PIT and Kroll Reports, it has been able to establish that Crane Currency honestly accounted for amounts printed as per its contract.


Credit: Front Page Africa

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