They are charged with economic sabotage, misuse of public money, property or records and illegal disbursement and expenditure of public money to the tune of $2,645,000,000, criminal conspiracy and criminal facilitation.
Magistrate Peabody informed the defendants of their Miranda rights, saying that the charges levelled against them are bailable, and that the state must be able to provide sufficient evidence, but urged them to file proper criminal appearance bond for the crimes they are charged with.
He said if the defendants fail to file a valid criminal appearance bond, they would be incarcerated at the Monrovia Central Prison, pending notice of assignment.
The three defendants were on Monday charged and spirited to court for alleged illegal use of government funds.
The defendants were heavily escorted by officers of the Police Support Unit (PSU) of the Liberia National Police, and they were placed on prisoners’ bench at the Monrovia City Court.
Immediately after, a writ of arrest was issued them informing them of the criminal charges against them.
The writ indicated that the defendants failed to account for LD$2,645,000,000 which, they out of deception criminally converted to their own use, noting that such action on the part of the defendants has the propensity to cause serious economic instability, undermine the government and cause its citizens to rise up against it.
“The alleged act of the defendants being unlawful, wicked, illegal, criminal and intentional is in violation of the statute laws of the Republic of Liberia to included sections 15.80,15.81 and 10.4 of reversed penal law of Liberia,” Magistrate Peabody said.
The defendants are yet to get an insurance company to file a bail bond for them due to the huge amount of money they are being tried for.
Meanwhile the defendants have been placed behind bars at the Monrovia Central Prison awaiting trial.