IPNEWS: Nimba District No. 4 Representative Gonpue Kargon, A.K.A. ‘Dubai King’, has been linked to the counterfeiting and money laundering of Liberian dollars from Dubai, the United Arab Emirates.

According to leaked audio intercepted by the authoritative Independent Probe Newspaper, an accomplice named Thomas Kollie, currently living in Dubai narrates how Representative Gonpue L. Kargon, commonly known across Nimba County, as ‘Dubai King’, has procured four containers of the counterfeit money and has dispatched them to Liberia for use on the parallel market.

In the leaked audio, a man identified as Thomas Kollie, encourages a man (name withheld) and several persons to travel to Dubai for counterfeit Liberian dollars production.

According to sources close to Representative Gonpue Kargon, the now Nimba County Lawmaker has been involved with this alleged counterfeiting since 2010.

Sources tell IPNEWS that indeed Representative traveled to Dubai in mid-September 2022, for undisclosed reasons.

Classified information available to IPNEWS, says that most of the counterfeit money is brought through bordering areas in Bluetooth rechargeable speakers which have recently been visible across Liberia.

IPNEWS correspondent in the provision city of Ganta, Nimba county, says, fear has gapped marketers and other business owners on accepting the new Liberian Bank notes for fear that they might just be transacting with some of the counterfeit Liberian Banknotes that are reportedly in circulation.

A former Anti-smuggling Agent told IPNEWS that those counterfeit Liberian dollars are often used as a medium of exchange at mining legal gold mines and irregular rubber purchasing centers in rural Liberia, for cleaning into actual money at the detriment of customers and the Liberian economy.

Chapter four of the Central Bank Law, Title 6 – Liberian Code of Laws Revised, on Currency, No 1, 3, 4 states that: “  The Liberian Dollar shall be the currency of Liberia and legal tender; No person other than the Central Bank shall issue coins, banknotes, or any documents or tokens payable to the bearer on demand having the appearance of or purporting to be Liberian currency without the prior approval of the Central Bank, neither shall any person other than the Central Bank issue commemorative coins of Liberia without the approval of the Central Bank. Such approval shall be deemed granted herein in respect of any currency issued prior to the effective date of this Act by the National Bank of Liberia and the Government, except where previously specifically recalled, and  Any person contravening the provision of Section 20 (3) is guilty of an offense and shall be liable to pay a fine of not less than ten times the money gain he might have made, or One Hundred Thousand (L$100,000) Liberian Dollars, whichever is greater, or be imprisoned for a term of up to four years or to both such fine and imprisonment. Such coins or banknotes 30 issued shall be confiscated.”

Last week, Banknotes believed to be counterfeit and valued at more than L$1 million have was seized by customs officers assigned to the Roberts International Airport.

The money in question was allegedly confiscated from one Samuel Carlos upon arrival at the Airport via an Asky Airlines flight. The seized currency, according to the Liberia Revenue Authority was in the amount of L$1.3 million — and in two denominations — L$100 and L$500.

At the exchange rate of 150, the money would have fetched Carlos nearly US$9,000 — signaling that counterfeiting Liberia currency in higher denomination is a lucrative business.

This latest arrest comes ten months after the Central Bank of Liberia seized L$1 million worth of counterfeit banknotes, in the denomination of L$500 notes.  Also, in 2021, a 33-year-old Nigerian man, Ementuche Benjamin, was arrested in Lofa County with L$1 million in L$500 denominations.

“On Oct 12, (night hours) the Customs Department of the Liberia Revenue Authority (LRA) seized L$1.3 million banknotes at the Roberts International Airport (RIA),”  D. Kaihenneh Sengbeh, LRA spokesman said. “The currency was purportedly transported by an arriving passenger on ASKY flight. An investigation by multiple agencies is currently ongoing to establish the authenticity of the banknotes and surrounding circumstances.”

Carlos’ arrest comes as the Central Bank of Liberia rolls out last month across the country a new family of Liberian currency, with new security features, which was said to have strengthened the newly printed Banknotes.   The CBL printed L$100 and the existing L$500 banknotes, when held up and flipped, the seal on the banknotes becomes visible inside the left white field and the stars in the threads across the notes do move.

But counterfeit banknotes in such a high denomination do not have such features. Moreover, the paper used for the counterfeit banknotes can be easily detected from their feel and look as well. Meanwhile, the CBL’s Communication Director, Cyrus W. Badio, has disclosed that the state is investigating the latest seizure, after which the Bank “will be informed officially for technical evaluation to ascertain whether the said money is counterfeit banknotes.”

IPNEWS has been frantic efforts through calls, SMS messages to Representative Gonpue Kargon over his alleged involvement in the money laundering and counterfeiting spree but to avail.