Liberia: National Security Agency Busts Cartel Attempting to Defraud U.K. Financing Firm of Two Billion Euros
MONROVIA – The National Security Agency (NSA) is interrogating four people in connection to a major scam designed to defraud a U.K. financing firm of Two Billion Euros under the pretext of using the amount to fund the “Agro-Infrastructure and Economic Development Project in Liberia.”
Agro-Infrastructure and Economic Development Project in Liberia, according to the scammers, was designed to boost economic development through the provision of education infrastructures and services, affordable transportations, expand economic development and sustain affordable housing for all by 2026.
However, sources within the NSA informed FrontPageAfrica that the project which does not exist in Liberia was designed with the sole intent of defrauding the financing company under the guise of investing in Liberia and that UBA bank would serve as the collateral when the amount is transferred.
Those busted include Saidu Gray (ring leader in Liberia), Francis Egulansang, David Sinatule, James Sorwah. They are currently in the custody of the NSA. They also have cohorts in Ghana. They were arrested with several passports, FrontPageAfrica gathered.
Documents seen by FrontPageAfrica show that the men where operating under a company called Tenelko Group of Companies Liberia Limited, which also does not exist, and pretending to have signed a contract with the government of Liberia for such huge investment.
The company, according to the designed scam, is owned a Ghanaian, purporting himself as a king of a kingdom in Ghana – His Imperial Majesty Nana Kwasi Baffour-Addae Gyanko Fofie, I.
As part of the grand scam, letters were written to the financing company under a forged UBA letter head with fake names and signatures committing the bank to serve as collateral for the Two Billion Euros, for the financing of the non-existent project.
A copy of such letters obtained by FrontPageAfrica reads:
First Fideliter Holdings Inc.
10th Floor, Philam life Tower
8767 Paseo de Roxas, Makati City
C/O Rabbi Leon Lipess
Re: OUR REQUEST FOR FUNDING
We refer to our recent discussions with Mr. Antonio Chamorro Valverde.
We wish to take this opportunity to thank you for showing interest in proving us the requested funding which will assist own funding requirements over the next 6 years.
With regard to this, we wish to inform you that we, United Bank for Africa (UBA) Broad Street are prepared to transfer a Promissory Note for First Fideliter Holdings Inc. as collateral for this funding. The Face Value of this Financial Instrument will be Two Billion Euros.
We also confirm that the Promissory Note will be delivered to you via EUROCLEAR.
We are ready to proceed with this transaction. We look forward to hearing from you and to receiving your contract model and final EUROCLEAR.
The letter was signed by Nathaniel S. Dweh as Resident Control Officer while Joseph Kelley signed as Branch Operations Manager.
UBA confirmed to FrontPageAfrica the letterhead and signatures on the letters sent by the group were all made up and do not represent the Bank’s official letterhead and signatures.
From the series of fake UBA communications sent to the financing company, FrontPageAfrica observed that one of the communications dated April 09, 2021 stated that the company had maintained a savings account with the bank since February 16, 2014 and the account numbers are 53020030002586 and 53030007650 with the account title TENELKO GROUP OF COMPANIES.
However, in another communication under the same forged letterhead of the UBA Bank, stated that the company open a corporate account with the bank on July 28, 2020 with account number 5302003002586.
Officials at the NSA told FrontPageAfrica that they could not speak on the matter as investigation was still on going.
However, a source within the NSA informed FPA that this could be a big syndicate that might likely involve some big hands for which the investigation is being carefully carried out so as to ascertain the full details of the cartel.
The source further informed FrontPageAfrica that the ring was busted when some agents of the NSA posed as representatives of the financing company after they received the tip of.
The agents had invited the group to a meeting under the guise of validating their documents before the transfer could be made.