MILINGO LUNGU forfeits $24m

By Hannock Kasama

Former KONKOLA Copper Mines –KCM- Provisional Liquidator MILINGO LUNGU has forfeited 24 million dollars to the state.

The money that Mr. LUNGU has forfeited to the state is deemed to be proceeds of crime, contrary to Section 71 of the Forfeiture of the Proceeds of Crime Act number 19 of 2010.

Mr. LUNGU has forfeited the money in question following a Consent Judgment brokered between him and the state.

This is in a matter where Director of Public Prosecution-DPP- GILBERT PHIRI applied for a Non-Conviction forfeiture of 24 million United States dollars from Mr. LUNGU deemed to be proceeds of crime.

ZNBC