DEC arrest two Lusaka businessmen for money laundering
By Staff Reporter
The Drug Enforcement Commission (DEC) in Lusaka have arrested and jointly charged two Lusaka businessmen for money laundering activities involving US$39.5 million.
DEC Public Relations Officer Theresa Katongo said Metternich Chishimba, 49, a Businessman of Chalala area in Lusaka District has been arrested and jointly charged with Anderson Phiri, 42, a businessman of Ibex Hill for money laundering contrary to the laws of Zambia.
Katongo explained that particulars of the offence were that Chishimba, on dates unknown but between October 7, 2015 and December 31, 2017 jointly and whilst acting together with Phiri and other persons unknown with intent to defraud did forge contract documents.
She explained that the duo purported that the Road Development Agency (RDA) and the National Road Fund Agency had signed a contract with Drum and Bitumen Isfahan of Iran for the supply of 100,000 metric tonnes of bitumen with a total contract value of US$39,550,000 when in fact not.
Katongo said the duo obtained a total sum of US$480,000 as advance payment guarantee from Drum and Bitumen into their company account which funds were used to acquire various properties for sale for their personal benefit.
She said the commission has since seized properties from the duo for further investigations.
Katongo further added that the suspects were on police bond and would appear in court soon.