Maravi

Regina reveals source of business capital

Regina reveals source of business capital
Written by Inonge Noyoo

FORMER president Frederick Chiluba’s wife Regina yesterday revealed that the money she used to start her lucrative businesses was given to her by her father.

Continuing with her defence in the case in which she is charged with six counts of failing to account for possession of various properties and receiving goods believed to have been stolen, Regina said her father gave her K800,000 as capital for her business.

She further explained that she later got a loan from Finance Bank using her father’s house as collateral.

Asked by Task Force prosecutor Dennis Simwinga if there were any records to show that she indeed acquired a loan from Finance Bank, Regina said she did not have any.
Regina said as for her lucrative canteen business, she did not need to have any money as capital to start the business because she had a good relationship with suppliers.
She further said she did not have any records to show how much profits she made from her businesses.

Regina said she could not bring her books of accounts to the court because her accounts will testify and will tender in all relevant documents as evidence.

She further said her thriving importing business only had scanty records but maintained that she always paid duty and kept receipts as proof of payments.

Asked if she had any documents to show that she was paying duty on her imports, Regina said it did not cross her mind that the documents may be required.

She said she bought all her properties using proceeds from all the businesses which she maintained as they were very profitable.

Regina allegedly failed to account for possession of property on stand number NDO/14 purchased at US$80,000 which was reasonably suspected to have been stolen or unlawfully obtained, property known as stand number KIT/643 purchased at US$48,000 cash, money reasonably suspected of having been stolen or unlawfully obtained, property on stand number KIT/645, purchased at US$60,000 cash, a motor vehicle Isuzu KB, registration number AAT 2603 suspected to have been stolen or unlawfully obtained.

She is alleged to have received from Chiluba one Toshiba 61-inch colour television set, serial number 69140018, model No PJ 98 B, knowing or having reason to believe that the same had been feloniously stolen or obtained.

Regina is also alleged to have failed to account for possession of K474,000,000 cash, which was reasonably suspected of having been stolen or unlawfully obtained.
The matter comes up today.

Labels: COURTS, REGINA CHILUBA

posted by MrK @ 12:12 AM