The late Cllr. David A.B. JallahNew Democrat has gathered that Cllr. David A.B. Jallah, the late former Dean of the Louis Arthur Grimes School of Law was the broker between a group of foreigners and sleazy Liberian officials who established a Ponzi scheme using Broadway Consolidated PLC that largely operated as a criminal enterprise.
Broadway according to a document, which New Democrat has seen, was established between 1994 – 1995 when Jonathan Mason was Minister of Land Mines and Energy. For 10 years ending 2005, the company was dormant.
When Mason retuned to the mines ministry during the era of the National Transitional Government of Liberia (NTGL) as Minister he and the interim administration granted Broadway a petroleum concession to operate a Liberian oil basin.
Since it is not legally permissible for serving Liberian officials to own oil exploration license, Mason and a cartel of NTGL officials opted for secret shares. On available public record Cllr. David Jallah would become a major shareholder (only Liberian) in the company with an 18.5% stake.
He told investigators that he acquired the shares after the company foreign owners failed to pay for his legal fees and agreed to barter fees for shares.
Dubbed, as a rogue firm lacking financial and technical capacities by Global Witness, Broadway would become Peppercoast in 2007 with an amended and ratified deal.
With American firm Chevron controlling Blocks LB-11, 12 and 14 and desperately seeking to extend control over Block LB-13, Peppercoast flipped the oil properties to Exxon for US$70m in 2013.
About US$7.5million of the $70million was transferred to Peppercoast Liberian shareholders. According to the Special Presidential Committee that probed the scandal surrounding “Block 13” and Exxon subsequent acquisition, Jallah “willfully refused to make available the records relating to Broadway/Peppercoast transitions and ownership.
The lawyer passed away on Monday, May 21, nearly five days after the Special Presidential Committee presented its report to President George Weah. New Democrat understands the committee recommended the Financial Intelligence Unit (FIU) to investigate whom along with the deceased lawyer received the US$7.5M. Jallah, already facing charges of corruption including economic sabotage, would have been prosecuted together with others to be identified through the FIU’s findings.