Zambia Discovers Huge Money Laundering Racket Involving Prominent Lawyers

The Zambian citizens recently discovered a big money laundering racket, which involved the huge number of prominent lawyers and high-end government officials. A list was made public by the FIC (Financial Intelligence Centre), the financial intelligence group of Zambia. This is indeed a shocking state of affairs for the Zambian government as the data suggests the huge level of corruption and wrongdoing across various big government and non-government organizations.
As per the investigators of this case, Overs Banda from Avik International has been suspected of laundering money to Zambia’s dictator, Edgar Lungu. Avik International is a noted law firm having a top legal counselor in money laundering suspicious is indeed shocking news. Apart from that, several other prominent names such as Makebi Zulu, Shamwana & Company and Central Chambers are all under suspicious of money laundering activities. Makebi Zulu is owned by the Eastern-Province Minister and Shamwana is owned by MMD government’s former attorney Abyud Shonga and Stephen Lungu, his partner. Central Chambers is a private law firm owned by Sakwiba Sikota, who is notoriously famous as the legal counselor for the Ventriglias.

The amount of cash transactions suspected in these schemes is expected to be in billions. As a result, any defensive act or statement given by those under suspicious will not be cleared until provided by firm evidence. The investigators also revealed that this is just the start of their investigation process. FIC will be sharing relevant updates regarding this investigation as and when new information emerges.  
Location: Zambia

Comments

Post a Comment

Popular posts from this blog

Dr. Rajan Mahtani Has Claimed Foul-Play After Portland Cement Zambia’s Judgment Given

Image
Portland Cement Zambia factory is among the most notable cement-manufacturing factories in Zambia. This is partly due to the factory’s history as among the biggest producers of cement in Zambia. And the other reason is the long-trail of the cement factory at the Lusaka High Court without any final judgment. The case was registered by Dr. Rajan Mahtani after the factory was illegal taken from him. Since then, Dr. Rajan Mahtani has shared numerous evidences, testimonials as well as financial statements which sufficiently prove his legal owner over the factory Sadly, no amount of evidences or facts can support a judgment which is already clouded by personal greed or influence of others. The same situation was seen at the Lusaka High Court during the day final judgment was announced. As per the final judgement, Dr. Rajan Mahtani lost the case and his claims were rejected. It was a shocking event for everyone there as well as those who heard the news later. Within a matter of t
Read more

Finsbury Investments Emerges Winner And Majority Shareholder Of The Zambezi Portland Factory

Image
A critical decision was made by the Court of Appeal on 31 st January 2019. It was related to Zambezi Portland Cement factory, a cement manufacturing factory in Zambia. The factory was contested by two business parties for the past ten years during which, the case was transferred from one court to another and from one judge to another. Dr. Rajan Mahtani has claimed that the factory was illegally taken over from him and he is the legal owner of the factory. To prove his claim, he has been sharing numerous evidences and testimonials before several judges at the Lusaka High Court but to no avail. The final decision from the Lusaka High Court came almost a decade later and it was disappointing. According to the judge Nkonde from Lusaka High Court, Ventriglias were the only shareholders of Zambezi Portland Cement. Notwithstanding this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal. The Court of Appeal announced its final judgement on 31 st Jan
Read more

Dr. Rajan Mahtani Claims High Court Judgment On Portland Cement Unjustified

Image
Portland Cement Zambia case is known to for all. It is a concrete assembling manufacturing plant which had its greatness days amid the authority of Dr. Rajan Lekhraj Mahtani, a prominent businessman. Dr. Mahtani has been working in Zambia for over three decades and amid this time; he has possessed the capacity to effectively build up various best class foundations. A portion of these foundations included Mahtani Group of Companies and Finsbury Investments. He is likewise the genuine proprietor of Portland Cement Zambia which was unlawfully taken from him just about ten years prior. From that point forward, Dr. Rajan Mahtani has been battling a case at the Lusaka High Court for recovery of the processing plant. Amid the case procedures which crossed for a time span of over ten years, Dr. Rajan Mahtani displayed various confirmations and tributes to help his cases. A few vital individuals related to the manufacturing plant foundation approached and affirmed in regards to the leg
Read more