—Terms Indictment as ‘Reckless and Unprovoked’
MDMC has condemned what it described as a “reckless and unprovoked” verbal and physical assault by the Assets Recovery Taskforce and police, which led to the arrest and detention of its CEO, John S. Youboty, on November 7, 2025.
MDMC has labeled the fraud allegations a “witch-hunt” and is seeking legal redress.
MDMC reported that armed operatives from the Assets Recovery Taskforce and the Liberia National Police raided Youboty’s home and detained him.
The Assets Recovery Taskforce alleges that MDMC received a US$1.9 million payment for renovations at the Ministry of Foreign Affairs but only completed 56.35% of the work. Taskforce chairman Cllr. Edwin Kla Martin claims the remaining US$851,000 was misused public funds.
MDMC denies the fraud allegations, insisting it completed 100% of the contracted work.
The company claims the Ministry of Foreign Affairs owes it an additional US$526,870 for extra work and has ignored legal advice from the Ministry of Justice to settle the matter.
MDMC considers the indictment “speculative, false, and misleading” and accuses the Taskforce of exceeding its mandate by interfering in a commercial dispute.
The incident has prompted concerns from legal analysts and civil society actors about the Taskforce’s growing influence and perceived lack of judicial oversight. MDMC has warned that these actions could damage the country’s investment climate.
Mr. Youboty was detained but MDMC has vowed to pursue “legal reciprocity” against those responsible. The company has called on President Joseph Boakai to investigate the incident.
The Assets Recovery Task Force (ARTF) arrested John S. Youboty, the Chief Executive Officer (CEO) of Modern Development & Management Corporation (MDMC), on Friday, November 7, 2025.
The arrest according to ARTF is part of an investigation into the alleged misappropriation of funds related to a contract with the Ministry of Foreign Affairs (MoFA).
MDMC reports that Youboty was arrested during an “unprovoked and illegal armed raid” on his home in the early hours of Friday, November 7, 2025, and subsequently detained at the Monrovia Central Prison.
The ARTF is investigating US$800,000 to US$2.5 million in Saudi-donated funds intended for the renovation of the MoFA headquarters.
The Task Force claims these funds cannot be accounted for and that MDMC delivered only two used vehicles instead of 20 new SUVs as per one contract.
Former Deputy Foreign Minister Thelma Duncan Sawyer was also arrested and jailed in connection with the alleged misappropriation of these funds.
MDMC’s Response and Counterclaims
MDMC has strongly condemned the ARTF’s actions, characterizing them as a “witch-hunt” and an “abuse of power”. The company maintains the following:
MDMC asserts it had a legitimate contract with MoFA for the renovation and installation of elevators, a project it claims was completed over a year ago.
The company argues the issue is a civil contract dispute over an unpaid balance of over US$500,000 for additional works, not a criminal matter.
MDMC accuses the ARTF of exceeding its legal mandate by intervening in a matter that the Ministry of Justice had already issued a legal opinion on, recommending payment or a technical review.
The company has vowed to pursue legal action against those responsible for the “unlawful attack” on its CEO and reputation, warning that such actions undermine investor confidence in Liberia.
The Assets Recovery Task Force, chaired by Cllr. Edwin Kla Martin, remains resolute in its mission to recover stolen public assets and has warned against interference with its operations. The case is ongoing and is viewed as a significant test of the Liberian government’s commitment to accountability and the rule of law.
