FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion
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The Financial Intelligence Unit of Liberia (FIUL) has recovered more than $284,000 from two companies suspected of money laundering and tax evasion.
In November 2021, a source filed a complaint with the FIUL, alleging wire fraud and money laundering by Korlane Investment Limited Liability Company and its corporate owners.
As supported by the FIUL Act 2012, the FIUL initiated an analysis and preliminary investigation into the allegations reported.
Based on considerable suspicion of money laundering and the findings of preliminary investigations, a freeze order was placed on all the company’s accounts in Liberia, thus protecting alleged proceeds of crime pending the outcome of a full-scale investigation and subsequent criminal trial.
A full-scale investigation was then carried out into the allegation by Law Enforcement Authorities. The investigators found that Korlane Investment Limited Liability Company operated a shell company in Liberia without an office or staff, and opened and used its accounts in Liberia to launder, conceal and direct stolen funds generated through unusual transactions from wire fraud — a predicate to the crime of money laundering.
Further, the Investigators found that said ill-gotten funds were usually withdrawn by a foreign national named Patrick Hermann Diega Wahi, who comes to Liberia to effect withdrawal under the authority of Evgene Nikisuit, Korlane’s account holder.
As a result, in early January Korlane Investments Liberia Limited Liability Company and its corporate owners including Patrick Hermann Diega Wahi, Evgene Nikisuit, and others to be identified, were indicted by the Grand Jury for Montserrado County for the crimes of Money Laundering, Wire fraud, Theft of Property, and criminal conspiracy.
According to the FIUL, upon obtaining a writ of arrest by the Ministry of Justice (MoJ) for Patrick Hermann Diega Wahi, who had come to Liberia to withdraw the said proceeds, Wahi evaded being arrested and absconded from the bailiwick of the Republic of Liberia.
Suggested read: Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
