DEC refuses to arrest Kaweche
DEC refuses to arrest KawecheBy Brighton Phiri
Friday March 14, 2008 [03:00]
THE Drug Enforcement Commission (DEC) yesterday said they have not arrested Kaweche Kaunda in connection with the transfer of US $7 million from Jamaica because he is not the principal suspect. Commenting on Kaweche's challenge for the DEC to arrest him instead of the Jamaican woman who is charged for money laundering involving US $7 million, DEC spokesperson Roston Chulu said their investigations revealed that Ingrid Loiten was the principal suspect, hence her arrest.
"I would not want to comment on what has come out in the paper. But as far as we are concerned, the principle has been arrested," said Chulu in reference to Kaweche's challenge to the DEC to arrest him instead of Loiten because he was the prime mover of the transfer of the US $7 million.
But Kaweche insisted yesterday that he should be the one to be arrested because he was the one who asked Loiten to use her personal account to transfer the money.
"Why are they separating me from the case when they know that I have been dealing with them over this same matter for some time?" Kaweche asked.
Investrust Bank chairman Friday Ndhlovu declined to comment, saying it was not right for the bank to issue a statement on the matter that was before the courts of law.
Home affairs minister Lt Gen Ronnie Shikapwasha refused to comment on Kaweche's challenge, saying the DEC were the right institution to deal with the matter.
The DEC arrested and charged Loiten with money laundering, failing to account for the money and falsification of documents.
And Loiten disclosed yesterday in a telephone interview from Johannesburg that the US $7 million was sourced from a Jamaican investor who had shown interest in investing in the Mfuwe development project.
According to Loiten, a Jamaican investor directed his company, which had account with a financial lending institution, to transfer the money to Zambia.
"This financial lending institution is listed on the Jamaican Stock Exchange. I wonder how such an institution can allow me to use it to transfer dirty money," she said.
Loiten said the Mfuwe development project, which was designed for the construction of two factories, a financial institution, skills training centre and over 4000 low cost houses for the local people, attracted interest among investors from Jamaica, Unites States of America and Israel.
She said one of the American investors demanded for a government grant before releasing funds while the Israeli investor sent to Zambia a technical team to assess the feasibility of the project.
She said upon concluding the preliminary plans of the project, she approached her contact from the European Union Development Council and Overseas Private Investment Commission for support.
"I am amazed to see the massive undeveloped land in Mfuwe. Since I have a lot of contacts of financial support, I begun soliciting for support. The support was overwhelming from the investors," Loiten said.
She said the US $7 million was meant for fundraising activities towards the project, which was estimated to cost over US $60 million. She said she had been involved in strategic planning with Educate Jamaica Network.
Earlier, Loiten said both her family members and financiers from the European Union and oil producing countries supported the project proposal.
She wondered why Investrust Bank rushed to report her to DEC when she had discussed with the bank before they allowed her to transfer the money for the project.
"It is not that the bank did not know what I was doing. They knew before the money was transferred," she said.
Labels: DEC, INGRID LOITEN, KAWECHE KAUNDA
posted by MrK @ 4:27 AM
7 Comments:
Free Ingrid Loiten now. Why does Zambia have a law to alert drugs enforcement agency whenever their is a 'suspicious' money transaction? Why is there an assumption that such monies must be connected with drug dealings? What kind of nonsense is that? Why should the onus be on Ingrid to prove that she was pursuing a legitimate business transaction? This whole thing does not sound just to me. This could lead to a diplomatic row between Jamaica and Zambia. Free Ingrid now!
I do not understand why she was allowed to transfer the funds and then they were seized it does seem a bit shady could it be the intent of the powers that be to seize these funds hoping to keep it for themselves. If Ms Loiten made the bank aware prior to the transfer and obtained the go ahead why woulkd the transaction now be fraudulent.And if indeed documents were false Y could these documents not be determined false BEFORE funds were transferred?. It seems to me the bank upon hearing the large sum to be transferred would have requested the necessary documentation BEFORE giving the go ahead for transfer no? And we cannot presume Ms Loiten was warned not to transfer and then went ahead anyway to jeapordize that large sum of money. This does not add up at all this smells foul. I hope the truth will be forth coming and true justice will prevail and that if this is indeed the plan to seize and take Ms Loiten's and investors funds then the plan will be foiled and she will be released
Do you have any update on the court case of the US7 Million dollar later, Ingrid Loiten?
Is the current whereabouts of Ingrid Loiten known? If so, where is she?
Everybody in Jamaica is looking for maydaisy,Ingrid Loiten, she took their money with a promise of 20% returns on FX trading, since then her office is closed and no one can find her on any of her partners and no sign of their money.... I wonder if this US$7 million is there money.
I advise all who are looking for her for their monies to go to the Fraud Squad in Jamaica for help before this money is lost in the system.
The last week Ingrid's office contacted Maydaisy client's to say the authorities in Zambia has held their money and that's they have not been able to give them back... who knew their money was going to Zambia?
The story keep changing for Ingrid... I hope she stays in gail and they will catch all others involved in this scam.
Ingrid Loiten give back Jamaicans their money you use God's name to extort us and then flee to Africa. If you don't pay us back you will have to deal with our Maker.Remember you use His words to trap us in your evil scheme. You can't run from GOD.
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