Liberia To Seek Recovery Of Its Stolen Millions In Swiss Banks & Related Others? : Unlikely, Because . . .

Bai M. Gbala, Sr.

The Perspective
Atlanta, Georgia
February 17, 2015



In an Editorial entitled, “No Time For Inaction”, the FPA newspaper held that “Liberia Must Move to Recover Exported Millions (FrontpageAfricaonline, Feruary 12, 2015)”.

This is in response to reports of Leaked Analysis by an International Consortium of Investigative Journalists indicating that “Liberia ranks 57th (with stolen, US $59.5 million deposited in foreign banks) of 203 countries” worldwide, with billions of stolen, national money stashed away in Swiss and other foreign Banks, by crooks, criminals and corrupt, “government officials” of these countries, including Liberians and their associates.

The FPA Editorial, also, is in apparent response to what the Paper reported that “Dr. Yeboah (Member of Ghana Parliament) challenged Ghana Attorney General . . . to go after the wealthy Ghanaians . . . said to have stashed $89 million in several . . . private bank accounts in Switzerland . . . The Leaked Swiss files ranks Ghana 106 among 203 countries with largest dollar amounts in Swiss banks, Liberia is highly rank at 57”.

The paper reports that, according to the leaked reports, that “the maximum amount of money associated with a (Swiss or foreign bank) client connected to Liberia was $59.5 million, a figure that could be . . . much higher based on the number of activities that took place in Liberia during . . . the . . . civil war, involving foreign individuals who operated as foreign investors, transacting deals with rebels leaders . . .”. 

The Rape of Liberia

Indeed, in all of the secret wheeling and dealing on a national/international level during our tragedy of the civil war in which secret movement of cash - a lot of cash – was involved and in demand for secret, safe-keeping, banks, especially, Swiss banks and related others, notoriously known for secrecy, were the major choices of Liberian crooks/criminals and their friendly international crooks/criminals, the individuals and organizations who were the major actors/players in and during our historic nightmare.


Yes, record of the systematic, political and economic Rape of our country’s resources in billions of US dollars by Liberian crooks/criminals, with the help and support of their friendly, foreign, international crooks/criminals, is well-known and documented by the United Nations and other world organizations, while the overwhelming majority of Liberian citizens, in isolated towns and villages, lives in abject Poverty, Hunger & Disease.It is reasonable to hope and expect that these crimes against humanity – of mind-boggling maiming, sexual rape, theft, looting, plunder, destruction, human suffering and death, including massive displacement of hundreds of thousands of innocent citizens will catch up with them, as it has done, and is doing with the over-all, powerful merchant of theft and death, Former President Charles Taylor.

Moreover, the reported record by the New York Times of stolen wealth extracted from our timber, gold and the Sweet-Heart deal of the Taylor regime with the Taiwanese are all known, and a matter of record. The UN record is clear and comprehensive about the criminal activities of such individuals as Sanjivan Ruprah, a Kenyan national (“business” partner of Viktor Bout, the Merchant of Death) granted Liberian passport under the name, Samir M. Nasr, made “Deputy Commissioner” of Liberia’s Maritime Affairs, in association with LISCR; Viktor Bout, a Russian/Ukrainian Arms dealer-Merchant of Death; and the Dutch national, Gus Kouwenhoven’s Oriental Timber Company, all close “business partners with the Liberian chief operator in theft, death and transfer of stolen, Liberia’s billions into foreign banks - His Excellency, Former President Charles Taylor, are a matter of record.

Topping it all off are the highly-questionable activities of LISCR, the Liberian International Shipping & Corporate Registry, our major income-generating agency which had been, and is, managed by questionable characters. It was the major source, during the civil war, for funding the purchase of arms/ammunitions that maimed and killed hundreds of Liberians, according to the UN recorded reports. Today, there are arguments of questionable payments made by LISCR to questionable individuals and organizations, with serious management decisions/questions involving millions of US dollars, not answered or rationalized by LISCR.

The Recovery Effort

Now, for Liberia to seek recovery of its known, stolen billions stashed away in foreign banks, especially, Swiss Banks, with their politically-connected, internationally-experienced, well-funded attorneys in their countries; and to go after well-heeled, international characters such as the Viktor Bouts, etc., etc., characters of or a la “soldiers of fortune”, with no commitment to socio-cultural, legal and moral belief system, but moral decadence with commitment only to money, money and money. Although a reasonable, lawful, moral objective and responsibility, but the context is something else, fraught with several questions, because:


Firstly, the recovery effort requires, will require, legal action against the Swiss banks, related others and the Viktor Bouts, etc., instituted in the various, now unknown, home countries of the defendants. It requires, will require, also, the services of foreign, local, high-priced, international attorneys, because our attorneys may not practice in courts of foreign countries. This reqirement presents another opportunity for foreign travels – air tickets, per diem payments, hotel bills for our attorneys just to hire local, foreign attorneys, since ours may not practice in the courts of foreign countries. Then there is the cost of the high-priced, international attorneys, and the expected postponements, delays for years, etc., etc., with no benefits to Liberia.

The result could or would be “putting good money behind bad money”,  with all the attendant costs – foreign travels, air tickets, hotel bills, per diems, local, high-priced attorneys, witness research, etc., etc..  

Secondly, in the light of our history of failures to extradite, because it has been alleged, continues to be alleged, that our judicial system is not free and fair, but controlled and dictated by politics.  Arguments against this effort to recover may cite the prevailing case of Ellen Corkrum and Melvin Johnson, who have become heroes, with their counter-charges of government corruption, though charged with stealing public money entrusted to them. The Ministry of Justice has been and is unable to extradite them.

And thirdly, the Swiss Banks, related others and the Viktor Bouts know that former rebel drivers, looters, thieves, crooks and criminals – their friends – are now the “Honorables” in Liberia; they are Counselors-at-Law, Judges, Policemen/women, Military and Security Personnel; some are Ministers & Deputies; Managing Directors & Deputies; they are Senators, Representatives; others are citizens of foreign countries – “dual (Liberian & foreign) citizens” – in flagrant violation of Law, Article 30 tof the Liberian Constitution; and they control and dominate the political economy of Liberia. This condition says volumes about potential futility of the proposed Recovery effort.

On the Critical Issues of the Nation


Yes, the “Honorables” are the socio-economic and political power in today’s Liberia, with their brand of law enforcement. Do not take my word for it, just ask yourself the question of what happened to the TRC Report, the result of the celebrated, Ghana CPA and recent “celebration of ten years of peace”. It is gathering dust on the shelves of the offices of the “Honorables”, while the nation is back to “business as usual”, whatever that is.

The economic Rape of our country for personal economic gain by the very few is seen everywhere and known, but no one cares. Land and related, real estate property disputes, the result of rebel encroachments and forced take-overs of property that they (the rebels) do not own abound nation-wide, but no one cares.

Today’s millionaires are, and were, the rebel looters and thieves of the National Treasury, including the nation’s international shipping registry. The land, houses, mansions, swimming pools, expensive, top-of-the-line automobiles were all acquired with stolen, state money; in fact, it is a matter of record that the prevailing, so-called “corporate Liberia” was established by stolen, state funds – based on theft and death. But one dare ask!!

All that is necessary and must be done – reasonable, objective, relevant, doable for the immediate benefit of the nation and people – to rescue the nation’s capital city from socio-economic and political decay is a proposition that is within reach than to pontificate ivory-tower, pie-in-the sky propositions.

The critical issues, Mr. & Mrs. Liberia, demand a return to the national drawing board, as we approach the year 2017, for the next socio-economic and political leadership of our country. “More of the same, including a wild goose chase” are not, any longer, options.

Mr. Gbala;
With all due respect, your style of writing is long out-dated. Your article is full of run-on sentences and very incoherent. I do not get your message. I am sorry!
Sayzay at 12:52PM, 2015/02/17.
rose roberts
he is belated. Could someone tell this old man that his is no longer relevant....and that his writings are jumble, do not rime.
rose roberts at 03:22AM, 2015/02/18.
G CYRUS at 11:08AM, 2015/02/18.
Sylvester Moses
Once again, Mr. Bai M. Gbala,Sr. we say thanks for unambiguously and unapologetically cautioning against the futility of going on a treasure hunt without reliable maps. Commenting on the topic elsewhere, our two - cents was that collective efforts should first be concentrated on curtailing ongoing corruption before rushing blindly into the labyrinth of the Swiss banking system with the possibility of being flummoxed and outfoxed.
Sylvester Moses at 06:09AM, 2015/02/20.
sylvester krah
let me use this time and thank mr. gbala for his insightful post. it is very elementary when we as rational beings begin to leave the substance of critical issues and attack the personality of venerable individuals who are impacting our empty brains with decades of hidden information.
what does the age of the old man has to do with such an important secret he's revealing? so called young people! where is your contemporary research papers on critical national issues? the information reveal by mr. gbala clearly specks volumes of why our people are still living in abject poverty. thanks again and i think it is about time that we use all legal means to regain our stolen cash.
Sylvester krah
sylvester krah at 03:03AM, 2015/03/12.
jack loach

Sods ----- Law.
July .- 2015. ( Updated.)

For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank--- PICTET & CIE. BANK.

Two yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.

The matter was raised in Parliament – twice-- the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank --- but the rogues had left ---saying no one left to prosecute.??? ----- so there.

We then approached the Financial Ombudsman Service. (FOS) --- our case was dealt with by seven different people ---- then our numerous E-Mails were ignored --- nobody would speak to us -------so there.

We then asked the SFO ( Serious Fraud Office.) to investigate our case ---- the criteria of our case ticked all their boxes. --- we were instructed not to send them
any documents/evidence.------ in fact they wrote to us advising us to go to the Citizen's Advice Bureau.(CAB.)
Richard Alderman the SFO boss ---- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco.
The MP's committee ---- said he was sloppy--- and the SFO was run like “ Fred Karno's Circus” ----- it was an office of fraud.----- so there.

Our M.P. approached our local Chief Constable to investigate----- he was called---- Sir Norman Bettison--- Chief Constable of West Yorkshire Police ---- a force that made “ Dad's Army” look like the S.A.S. They were inept – corrupt ---malicious --- from top to bottom. We were criminally dealt with by the Forces Solicitor---- the Head of the Economic Crime Unit ----and the Chief Constable ----- so there.

We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did --- they advised us to make our complaint to ---- the West Yorkshire Police --- we did with reluctance --- all we got was abuse and obfuscation. ----- so there.

Sir Norman Bettison ---- The Forces solicitor--- and the Head of the Economic Crime ---- have all been removed from their posts and facing criminal allegations.
------ so there.

We even sought justice through the Courts --- culminating in a visit to the Court of Appeal-London.--- On leaving the Courts of Appeal that day our barrister a “rising star” informed us --- that if that was British Justice then you can keep it. He quit the law and moved to Canada ----- so there.

A few years later we learned that one of the judges ( Lord Justice.) in our case at the Court of Appeal was related to a senior executive of the Pictet Bank -----so there.

The Ministry of Justice passed our case to Lord Myners to investigate --- we would rather have had Mickey Mouse or Donald Duck do it. --- to this day we don't know
---whether he did anything or not ---- probably not --- seeing that his wife was on the Pictet Prix Board.

Pictet & Cie .Bank --- voted private bank of the year 2013.
Ivan Pictet ---- Voted banker of the year 2012. ---- the senior partner --- lied on numerous occasions and had documents destroyed --- also said genuine documents were forgeries. ----- so there.

Pictet & Cie. were adamant that they had no involvement with MADOFF ---- they lied again ---- they let him steal the monies then conned it off him.--- so there.

2012 --- June – Published in Anglo INFO. Geneva – USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees ( Like Madoff.) Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.-- so there.

Ivan Pictet in Oct. 2013 ---- Given the Legion of Honour --- but saying that ---- honours were given to Hitler --- Eichmann --- Mussolini ---Franco --- he's in fitting company. ----so there.

April 2015. ---- Inner City Press.---- United Nations Joint Staff Pension Funds.
Pension Fund.--$53 Billion.----- The spokesman FARHAN HAQ would not answer whether Investment chairman – IVAN PICTET had to quit ---- after allegations made by some staff. ---- “ once a crook always a crook” – so there.

MONTY RAPHAEL.Q.C. -- Peters & Peters.London. They were the banks lawyers.
Monty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court ---- the FSA ---- and the police Fraud Squad. ----so there.

Monty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.
Monty Raphael.Q.C. became a Master of the Bench in Nov.2012.
An expert in Fraud ---the Doyen of Fraud Lawyers. ----- so there.

This says a lot about Banks --- and their lawyers --the consensus of opinion is that they are highly paid “crooks” ---- no wonder they voted Ivan Pictet banker of the year. --- and Monty Raphael a Queens Counsellor – “crime does pay”?

It appears that crimes in the “establishment.” are honoured by their peers.

Full Story.---- “google ”

Insert.----- The Crimes of ----- Pictet & Cie Bank.
or insert
Ivan Pictet/ Monty Raphael Q.C.
jack loach at 03:11PM, 2015/07/17.
jack loach

The Death of the Swiss Pictet & Cie.Bank.
Once called the Rolls Royce of Swiss Private Banks , a member of the Swiss Private Bank Association. An association that has shrunk by 25% since the financial crash. The member banks Wegelin and Hottinger were lost through bankruptcy.

Pictet & Cie Bank and Lombard Odier Bank seeing the collapse of both Wegelin Bank and Hottinger Bank were advised to become limited liability companies to avoid the same fate has both Wegelin and Hottinger. Other members are also considering this course of action.

Pictet Bank by becoming a Limited liability company thus relieves the bank and its seven partners of their two hundred years unlimited liability. This basically means that the seven partners have been advised that their own monies invested in their bank is at risk. I'll bet they haven't informed all their investors /of the risks.

Pictet have a long list of outstanding litigable offences against them , which if they were outside the banking fraternity would be criminal and result in major prison sentences. It is quite obvious why Pictet do not have a bank in America. They have one in every other major financial centre. The reason being the USA they imprison corrupt bankers.

Ivan Pictet in particular operated like a modern day Don Corleone , being in positions of power ( Chairman of this and CEO of that.) a philanthropist with other peoples money . He even had an Auditorium Built in Geneva and named after him with monies illegally obtained. In 2013 he was given the Legion of Honour which was quite apt --- seeing that Franco - - Hitler --- Mussolini ---- Himmler have one.

He was an exponent of the -- bare face lie --- he had crucial incriminating documents destroyed ----- he said the bank had no involvement with MADOFF ---- in fact they let Madoff con people then they stole the money off him. The lawyers in the Madoff case sued Pictet bank for $135 million dollars.

The Swiss newpaper the Anglo exposed a Pictet Ponzi scheme that robbed USA investors of some $90 million dollars.

The Bank had the top lawyer in Britain take me to Court but one week before the case I let Monty Raphael Q.C their lawyer have sight of the evidence I was putting before the Court . I went to Court with my legal team --- Monty Raphael.Q.C. never turned up. The judge was furious --- my barrister suggested it was contempt of court.

Full Story ---- Google ---- ivan pictet/monty raphael.
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