Avic International’s top lawyer Overs Banda has been accused of laundering money. This sensational news was released by Financial Intelligence Centre, an intelligence agency. Masozi Banda’s name was at the top of the list of money launderers released by FIC sometime back. When confronted with the news, Banda defended himself by saying that the money in his account belongs to the Zambian dictator, Edgar Lungu. He also stated that the amount in his accounts for winning various government contracts such as road construction. However, no such evidence was discovered across the government books and investigation is going on against him.
In a similar fashion, numerous other Zambian lawyers have been caught in money laundering act, which according to Financial Intelligence Centre, has gulped in more than USD 1 billion worth of money till now. Moreover, this amount is indicative and the actual amount might be way more than the current estimates. Some of the law firms which have been accused of holding suspicious firms include Central Chambers which is owned by Sakwiba Sikota. Shamwana & Company is another one owned by Abyud Shonga and Stephen Lungu, in which Shonga was previously Attorney General in MMD government. Makebi Zulu Associates is another name in the list which is owned by Makebi Zulu, the Eastern Provincial Minister. The list also comprised of numerous law firms which are actually owned by ministers and former legal advisors of presidents and governments of Zambia. Therefore, it is clear that almost all of those involved in this money laundering act had powerful people protecting them.
One of the names is this list was of Sakwiba Sikota, the owner of Central Chambers. He is also the long-term legal associate of the Ventriglias, the infamous Italian family in Zambia known for their shady deals and acts, such as illegally taking over Zambezi Portland Cement from Dr. Rajan Mahtani, the factory’s real owner.
Investigations are still going on in this mass money laundering case with more names to come up.