MONROVIA – The Liberia National Police (LNP) has formally charged six individuals, including one in absentia, following a major investigation into an alleged $301,515 USD fraud scheme at the Diaconia Microfinance and Deposit-Taking Institution (DMDI).
According to police authorities, the suspects targeted vulnerabilities within the financial institution’s mobile money system over a 14-month period, stretching from January 2025 to March 2026.
The accused have been identified as Adama B. Mulbah, Lucy T. Yealue, Josephine Togba Kamara, Wannie N. Shannon, John D. Reeves III and Emmanuel Success Nyaneor(charged in absentia)
Police investigators revealed that the syndicate exploited systemic weaknesses to process a series of unauthorized deposits and withdrawals. By bypassing the institution’s established internal controls, the suspects allegedly managed to siphon off over $300,000 USD before the loophole was detected and plugged.
Legal Charges Filed
The Press and Public Affairs Division of the LNP confirmed on Tuesday that the case file has been officially forwarded to the judiciary for prosecution. The suspects face a laundry list of serious financial crime charges, including Criminal Conspiracy, Criminal Facilitation, Forgery and Theft of Property.
“The Liberia National Police remains committed to investigating financial crimes, protecting the integrity of Liberia’s financial institutions, and ensuring that offenders are held accountable through due process,” the LNP statement read.
With the case now heading to court, the spotlight turns to Liberia’s mobile money security protocols and how local financial entities can better safeguard their systems against increasingly sophisticated internal and external breaches.
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