Two Lusaka businessmen nabbed for money laundering involving US$39m

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The Drug Enforcement Commission through its Anti-Money Laundering Investigations Unit in Lusaka has arrested and jointly charged two Lusaka Businessmen for money laundering activities involving US$39,550,000.

Metternich Saidi Chishimba, aged 49, a Businessman of Chalala area in Lusaka has been arrested and jointly charged with Anderson Phiri, aged 42, a Businessman of Ibex Hill for money laundering contrary to the laws of Zambia.

Particulars of the offence are that Chishimba, on dates unknown but between 7th October, 2015 and 31st December, 2017 jointly and whilst acting together with Phiri and other persons unknown with intent to defraud forged contract documents.

The forged documents purported that the Road Development Agency 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 at a total contract value of $39,550,000 United States Dollars when in fact not.

The duo obtained a total sum of $480,000 United States Dollars 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. The Commission has since seized properties from the duo for further investigations.

The suspects are on police bond and will appear in court soon. This is contained in a statement issued by DEC Public Relations Officer Theresa Katongo.

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