By Festus Poquie
Liberia’s Minister of Commerce and Industry, Amin Modad, has refuted accusations that he owns a private yacht and a car worth over $100,000, calling them “deceptive” and “malicious.”
In a lengthy Facebook post, Minister Modad defended his integrity and financial background, stating that he was a successful businessman for over 25 years before taking on his current role.
Mdad is eight times richer than President Joseph Boakai with $8.6 million net worth, according to his assets declaration form filed with the Liberia ANTI Corruption Commission.
He acknowledged that he has owned boats, a home, and luxury cars for decades, but maintained that these assets were acquired long before he became a government minister.
“Public records are there that I’ve owned boats, a beautiful home, and luxury cars for decades, before becoming a Minister,” Modad wrote. “My assets, as declared on April 11, 2024, includes a boat (not a yacht as being deceptively propagated).”
The minister also addressed the allegation that he was gifted a car, stating that “NO vehicle was purchased in my name or for me as an individual; all documentation linked to the vehicle bought to support the revenue-generating functions of the ministry, bares the name of the Ministry of Commerce & Industry and owned by the Government of Liberia.”
Modad went on to say that the photos circulating online of a “custom-made, bullet-proof vehicle, costing $150k” were in fact images of former U.S. President Trump’s vehicle, and not his own.
Also, the minister claimed that he has been using his personal vehicle, a Mercedes S-Class, and has been covering the fuel and driver’s salary out of his own pocket for the past 8 months since becoming a minister.
“I did not fight for this change, risked my investments, and assumed this position because of the money,” he wrote. “I did so to ensure that we build a credible government and a vibrant inclusive economy for future generations including mine’s.”
The minister also highlighted his commitment to transparency, noting that he was among the first ministers to declare his assets and has refused all fees and compensation from boards he chairs or sits on. He also claimed to have cut his salary by 40%, following the President’s lead.
