The FIC recently revealed a huge money laundering scheme going on within the nation. As per the reports, top lawyers, legal counsellors and ministers are involved in this illegal activity. Furthermore, the amount of money used in this money laundering scheme is huge, going well beyond USD 1.5 million. This is probably one of the biggest corporate scams discovered in modern Zambia
The investigation started when numerous suspicious bank accounts were opened and closed in the past few months, particularly by the top lawyers. The FIC units reported more than 35,000 transactions in cash, which were linked with the individual and corporate bank accounts of the lawyers. At the same time, it was also found that majority of these accounts were extremely active during various unethical and illegal practices such as Rupiah Banda’s trial for Nigerian Oil Dealings, fraudulent elections held last year and during the recent Presidential Elections. It can be easily seen here that majority of these accounts were used for funding illegal activities.
Some of the top names in the list were of Masozi M. Banda and Sakwiba Sikota. Sakwiba Sikota is the owner of Central Chambers and Banda works for noted law firm Avik International. These lawyers have been accused of laundering money more than USD 1 million. Sikota is also infamous for his long-term partnership with the Ventriglias, a notorious Italian family. The Ventriglias have been illegally involved in various unethical practices, most notably taking over the Portland Cement Zambia factory from Dr. Rajan Mahtani. Dr. Mahtani is a noted and honest businessman in Zambia and the true owner of the factory. He is currently fighting the case at the Lusaka High Court from legal ownership of the factory.
Involvement of Sakwiba Sikota in this money laundering bust clearly indicates that they have engaged in criminal practices. Once confirmed and taken to court, these lawyers and political officers should be given strict punishment