Maravi

Rupiah linked to money laundering

Rupiah linked to money laundering
By Chiwoyu Sinyangwe
Tue 08 Nov. 2011, 14:00 CAT

Former president Rupiah Banda has been linked to money laundering and abuse of office in relation to the purchase of Plot No. RE/A/29/488A Leopards Hill Road, Kabulonga.

Sources knowledgeable about the transaction have disclosed that Banda acquired the property (right) about three months after becoming president for about US$700,000 and demolished what was there to build a multi-million dollar complex of 12 villas. Sources say this was clear corruption and money laundering by the former president.

"This is why these guys were in a hurry to remove the abuse of office clause from the Anti-Corruption Commission (ACC) Act. How was Mr Rupiah Banda going to explain how he got the money to buy the property, demolish and build his multi-million dollar complex, if the abuse of office clause had remained?" wondered the source.

"These transactions that Rupiah Banda got in will embarrass him."

Labels: ACC, MONEY LAUNDERING, RUPIAH BANDA

posted by MrK @ 4:13 PM