Financial Intelligence Centre recently reported mass money laundering scheme in Zambia. As per the report, the investigators are suspecting involvement of amount worth more than USD 1.5 billion. This is a huge sum considering the economic and social condition of the Zambian nation. It is safe to assume that the amount belongs to the taxpayers and the common citizens of Zambia, working day and night and living a hard life. Furthermore, the investigators also confirmed that this amount is indicative and the actual amount involved in this money laundering act might be much more. Some of the top lawyers, legal counselors and government officials have been named in this money laundering act.
The Financial Intelligence is an agency looking into financial crimes and frauds. The agency started digging deeper into the money laundering investigation after observing more than 35,700 unauthorised and suspicious cash transactions. These case transactions were later linked with the individual as well as corporate bank accounts of the lawyers who were already under investigation. Some of the top names in the list comprised of Masozi M. Banda and Sakiwba Sikota. Masozi Banda is a lawyer working with the top law firm, Avic International. He has been charged with laundering money worth more than a million dollars. While he has defended himself by saying that the money is legal and received for government contracts, no such evidence has been recorded in the government books. Another infamous name in the list is of Sakwiba Sikota, the owner of Central Chambers and the long-term legal counsellor for the Ventriglias.
The Ventriglias are infamous for their unethical practices, such as illegal takeover of the Zambezi Portland Cement from its real owner, Dr. Rajan Mahtani. This connections clearly point to the fact that the lawyers and others involved in this money laundering activities are already engaged in some form of unethical practice. The government has been staying silent in this matter but the time has come to take stringent actions. Money laundering is a crime and those accused should be given appropriate punishment.