Monrovia – Criminal Court ‘C’ Judge Yamie Quiqui Gbeisay will today deliver his final ruling in the ongoing trial of former officials of the Central Bank of Liberia alleged to have printed L$10 billion without authorization from the Legislature.
Judge Gbeisay ruling in the case today would decide the fate of the ex-Central Bank of Liberia governor and of officials of the Bank who were linked to the printing of the Liberian dollar banknotes.
The final arguments between the defendants and the prosecutors were heard last Wednesday by Judge Gbeisay after both parties rested with the production of both oral and documentary evidence to proof their side of the case.
During the final argument, State lawyers argued that they have proven beyond all reasonable doubt that the former CBL officials are guilty of charges levelled against them.
Prosecution anchored their argument on the Legislature’s joint resolution, that mandated the former governor of the CBL in 2016 to print L$5 billion to replace legal bank notes on the market.
But on the contrary the mandate, the ex-CBL officials chose to print extra L$10 billion outside of the Legislative approval, and in the process of printing the extra L$10 billion, L$2.6 billion was printed but not disclosed.
“We are aware of that amount of money printed and brought in the country and received, and placed in the CBL vault, but L$2.6 billion of excess could not be accounted for,” the prosecution lead lawyer Jerry D. Garlawolo argued.
As for the case against members of the board of governors, the prosecution contended that the board passed a resolution to print the extra L$10 billion when there was no authorization from the Legislature.
“Your Honor, convict all of these defendants because they conspired to carry out this act,” Solicitor General, Cllr. Syrenius Cephas also argued.
In resistance to prosecution’s argument, Defense lawyer Cllr. Abrahim B. Sillah, representing ex-CBL Governor Weeks, counter argued that in the six-week trial, the prosecution did not produce any evidence as indicated in the indictment against the defendants.
Cllr. Sillah further argued that the Criminal Procedure Law provides that the State shall prove every element contained in the indictment, adding that the joint resolution the State is relying upon to prove the guilt of the Defendants is filled with irregularities.
He said the letter of July 19, 2017 addressed to ex-Governor Milton Weeks was not a joint resolution but an authorization to print additional money since the initial L$5 billion was not enough to replace all of the mutilated banknotes.
Cllr. Sillah further argued that the decision of ex-Governor Weeks took to print the Liberian dollar banknotes was to safeguard the country’s crippling economy.
“In view of the forgoing, take judicial notice of our legal memorandum to this court and do just and equitable to the Defendants,” Cllr. Sillah added.
Also, former Chief Justice, Cllr. Gloria Musu Scott, representing the board members, Elsie Dossen Badio, Kollie Tamba, and David Farhat, argued that the defendants acted on the order of the Legislature.
Cllr. Scott argued that the Legislature should be indicted because they passed a resolution to print money that was unlawful, and that the money government claimed to be unlawfully printed have been used by the same government.
The former Chief Justice also accused former House Speaker Emmanule Nuquay, one of prosecution witnesses in the case, of lying under oath that the Legislature did not give CBL the authority to print money, after they authorized the printing of the banknotes.
The former CBL officials were indicted on June 8, 2020 by the grand jury of Montserrado County for the alleged commission of Economic Sabotage, Criminal Conspiracy, Criminal Facilitation, among others.