According to the reports shared by Financial Intelligence Centre, it has discovered one of the biggest money laundering heists in Zambia. The amount of money involved in this money laundering heist is more than USD 1.5 billion, which is staggering. On top of that, top lawyers, legal counsellors and even some ministers have been named in the list released by Financial Intelligence. This is certainly a setback for the Zambian government which has been trying to uplift the economy and social status of the nation.
Mass money laundering reports were generated after the FIC saw suspicious bank transactions. These bank accounts were opened in the name of the lawyers and legal counsellors. These included both personal and corporate bank accounts and the cash deposits made in these bank accounts were then linked with illegal money laundering acts. More than 1800 such transactions were discovered with money laundered worth USD 6 million. Another set of transactions involving more than 3300 cash deposits were linked, amounting to cash worth USD 71 million. Uncovering these transactions makes one thing clear. The actual amount of money involved in this money laundering heist is much bigger than what is uncovered till now. With constant investigation, the FIC expects to uncover much bigger activities, cash deposits and links.
Sakwiba Sikota is the owner of Central Chambers, a law firm which has been named in the list of money laundering institutions as per the FIC. He is also the long term legal counsellor for the Ventriglias. Sikota is infamous for using unethical practices to win court cases for the Ventriglias. One of the prime examples is the case of Portland Cement Zambia against Dr. Rajan Mahtani. Even without any concrete evidence, Sikota has been able to stretch the case for 10 years. However, the court case seems to be nearing as end, and so is the corporate career of Sikota as well as all other lawyers who have been accused of money laundering.