BusinessFinanceGeneralLiberia news

LBDI faces US$2.5m lawsuit

By Lincoln G. Peters

The Liberian Bank for Development and Investment (LBDI) has been sued by one of its former presidents, Mr. Francis Dennis, with a demand for US$2,500,000.00 for slander and libel.

Dennis filed the complaint of action damages against both LBDI and its immediate past president Mr. Deo Delaney.

Delaney recently resigned after the LBDI Board became aware that he faked his credentials to secure the top job as bank president and chief executive officer (CEO).

Dennis filed his complaint on 22 December 2022 before the presiding judge of the Sixth Judicial Civil Law Court of Montserrado County, Judge J. Kennedy Peabody for the defendants to answer to the allegation.

Dennis accused Delaney of willfully, intentionally, and purposely engaging in a slanderous and libelous campaign to harm, defame, embarrass and humiliate him (Dennis) while in his official capacity as LBDI president/CEO.

He alleged that Delaney went on social media, news networks, and platforms, including radio stations to brand him as one of the top 25 delinquent customers of the bank who has intentionally and wrongfully and deliberately failed to pay and settle his loan facility at the LBDI.

Mr. Dennis also alleged that on 28 November 2022 on a radio talk show named and styled as ‘’Super Morning Show,’’ presented on ELBC on 99.9 FM, defendant Delaney named and called him for shaming as one of LBDI’s top 25 deficit borrowers relative to non-performing loans totaling over US$19 million.

“While it’s true that the second defendant’s statements were fabricated and intended to name and shame the plaintiff, after the insurance of the slanderous comments and ideas against the plaintiff, the complainant wrote the first defendant, LBDI about the wrongful conduct of the second defendant on December 7, 2022, because information made by the second defendant was wrong and in violation of the rule and guidelines of the bank as well as the Central Bank of Liberia regulation,’’ Mr. Dennis stated in his complaint.

Mr. Dennis noted that still up to the filing of this complaint, the defendants have failed to retract their slanderous and libelous statements.

Meanwhile, the presiding Judge, J. Kennedy Peabody has issued a writ of summons against the defendants, LBDI, and Mr. Deo Delaney.

“You are at this moment commanded to summon the within named defendants, the management of the LBDI, and Mr. Deo Delaney, in the above-entitled cause of action, to appear before this court sitting in its March term 2023 to convene on the 21st Day [of] March 2023, at the hour of 10:00 am, to answer to the complaint,” he said.


The New Dawn is Liberia’s Truly Independent Newspaper Published by Searchlight Communications Inc. Established on November 16, 2009, with its first hard copy publication on January 22, 2010. The office is located on UN Drive in Monrovia Liberia. The New Dawn is bilingual (both English & French).
Back to top button