Saturday, August 22, 2009

DEC nabs microfinance manager for laundering

DEC nabs microfinance manager for laundering
Written by Ernest Chanda
Saturday, August 22, 2009 5:23:21 AM

The Drug Enforcement Commission (DEC) in Lusaka has arrested a branch manager of a micro finance lending institution for money laundering involving over K60 million kwacha.

According to a statement released yesterday by DEC press and liaison officer, John Nyawali, Godfrey Kapito, 24, a resident of Lusaka’s Avondale area was arrested by the Anti Money Laundering Investigations Unit of the commission.

Kapito, on dates between November 28 and December 10, 2008 did launder a total of K67, 060,772 which was wrongly credited to his account and he made a number of withdrawals.

The Commission has since seized one of his bank accounts.

Kapito has been released on police bond pending court proceedings which will commence soon.

Labels: , ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home