Freetown – Italian businessman Alfina Siracusa has publicly voiced his frustration over an alleged $260,000 gold investment gone wrong, linked to President Julius Maada Bio’s niece, Admire Bio, while criticising the Sierra Leone Police’s Criminal Investigation Department (CID) for delays in the probe.
In an interview with Epic Radio, Siracusa stated that he has neither received the promised gold nor recovered his money, despite months passing since the transaction.
“This country is not helping me at all with the investigation into my case,” he lamented.
He broke down the investment as $210,000 plus an additional $50,000, excluding extra costs like licensing fees and other gold-related expenses. .
“They still have it. I didn’t get anything,” Siracusa added, insisting that neither the gold nor his funds have been returned.
The businessman further claimed that CID communication has been poor, forcing him to repeatedly reach out for updates with little response from investigators.
The allegations remain unproven in court, and no final legal determination has been made. The CID has not issued a public response to Siracusa’s latest comments.
Context and Broader Implications for Sierra Leone
Admire Bio, popularly known as “Mama of Freetown” along with her husband Alhaji Dauda (Dauzy) Jalloh, has faced significant scrutiny in recent months over multiple alleged fraud cases. Reports indicate that CID has detained Admire in connection with a similar high-value gold transaction involving Italian nationals, with amounts cited around $220,000 to $300,000. Her husband remains wanted by police for questioning on related charges, including conspiracy to defraud, obtaining money by false pretences, and dealing in minerals without proper permits.
This case highlights ongoing challenges with gold-related disputes in Sierra Leone. The country has a long history of gold and diamond scams targeting foreign investors, often involving promises of cheap raw gold, fake export documents, and advance fees for “taxes” or “licensing.” Authorities, including the National Minerals Agency (NMA), have repeatedly issued warnings about such frauds, which damage the nation’s reputation as an investment destination years after the civil war.
Foreign embassies, including the US, have documented cases of substantial losses by international buyers lured by below-market gold deals that turn out to involve counterfeit material or non-delivery.
