READ MORE ON WWW.ZEDGOSSIP.NET and email zedgossip@gmail.com to place an ad.
REGISTER WITH PREMIERBET HERE JOIN PREMIERBET HERE AND CHECK THE LATEST BET ODDS HERE
PRESS RELEASE
Lusaka, Thursday 19th October, 2023.
The Drug Enforcement Commission, through its Anti-Money Laundering Investigations Unit, has arrested and charged a banker for fraud and money laundering involving over 16.8 million Kwacha.
Particulars of the matter are that Kondwani Mhango, male aged 35 while employed as a banker at a known commercial bank jointly and whilst acting together with others unknown on dates unknown but between 1st May 2020 and 30th November 2022, fraudulently gained access to the bank’s suspense account and stole funds amounting to K16,805,281.
Get your ZMW 200 Deposit bonus + 10 Free Spins – only at Bongobongo Zambia
The suspect is believed to have issued instructions to the bank’s cash management operations and the cash in transit (CIT) vendor, to deliver cash to non-client beneficiaries who were later handing over the money to him after receiving it.
Further, during the same period, the suspect is believed to have engaged in money laundering by concealing the true source of the stolen funds.
Mhango has since been charged with: Unauthorized Access to Data contrary to section 49 of the Cybersecurity and Cybercrimes Act No. 2 of 2021 of the laws of Zambia, Theft by Servant contrary to section 278 of the Penal Code CAP 87 of the Laws of Zambia and Money Laundering contrary to section 7 of the Prohibition and Prevention of the Money Laundering Act No.14 of 2001 as amended by Act No. 44 of 2010.
In the course of investigations, the Commission seized properties belonging to the suspect, including two motor vehicles, two flats in Lusaka’s Chalala area and a house in Chongwe. Two Kwacha bank accounts with a total balance of K167,651.89 and one United States Dollar account with a sum of USD 655.10 have been frozen and K150,217 in cash has also been seized
The suspect is on bond and is expected to appear in court soon.
Issued by:
Hussein Khan
Public Relations Officer
Drug Enforcement Commission
