This recent laundering scheme has created huge disbelief among industrialists, government and common citizens. While activities such as these are common in Zambia as the government has been extremely ineffective in reducing these criminal activities, the recent news involving top lawyers of the nation is extremely concerning. Apart from Banda, several other law agencies and firms have been identified to illicit money laundering worth more than USD 1 billion, as per the FIC sources.
Some of the law firms that were caught in money laundering with huge amounts were Central Chambers, Makebi Zulu Advocates, Shamwana & Company. Zulu Advocates is owned by Makibi Zulu, Eastern Provincial Minister. At the same time, Central Chambers is owned by Sakwiba Sikota, the legal counsellor for the Ventriglias. The Ventriglias are currently infamous for their case with Businessman and philanthropist Dr. Rajan Mahtani. Those following the case are aware of the fact that Zambezi Portland Cement, for which the case is being fought, actually belongs to Dr. Mahtani. However, long case proceedings, lack of government scrutiny and notoriety of the Ventriglias resulted in the case stretched to almost 10 years.
The money laundering investigation took a major turn when more than 35,000 suspicious account transactions were observed across several accounts. These transactions were linked to individual and corporate bank accounts. It has also been investigated that more than 50% of the companies being investigated are not even tax-registered. This investigation makes one thing clear. There is high penetration of corruption across the government as well as big public and private enterprise. Until the government takes stringent actions to ensure that these individuals sitting at important designations provide honest and transparent services, no amount of investigation will result in fruitful consequences and the people of Zambia will continue to suffer.
Therefore, it is time for government of Zambia to start taking strict actions and provide appropriate sentences to those caught in this money laundering act, irrespective of their position or power.