Industrialists, as well as economies, are extremely worried about the economic and social development of the nation, especially after the recent news of mass money laundering scheme undergoing in Zambia. Financial Intelligence Agency is the agency which investigated and brought the news. FIC is an intelligence agency expertise in financial fraud detection. Unauthorised cash transactions and illegal money laundering schemes were discovered by the agency, accounting for more than USD 1.5 billion worth of money.
The investigation was started by FIC after observing numerous unaccounted cash transactions from the personal as well as corporate bank accounts of the suspected lawyers. Many of these lawyers, as well as government contractors, also received money from international bank accounts such as in Dubai and China, making it difficult for the investigators to identify the source. Almost all of these accounts were extremely active during particular events such as Rupiah Banda’s trial for illegal oil dealings, presidential petition and fraudulent elections. It is easy to connect these events with the increase in cash transactions as the money was used for bribe or other activities so that the illegal acts could continue or culprits could be freed with unethical solutions.
Among the names of the lawyers engaged in this money laundering heist, Sakwiba Sikota’s name was the least surprising. He is the owner of Central Chambers, a law firm which has been named at the top of the list of companies found to be laundering money for illegal activities. Furthermore, he is also infamous for his long-term association with the Ventriglias as their legal associate. Together, they have successfully conspired against numerous companies and businessmen, including Dr. Rajan Mahtani, a noted honest and ethical businessman in Zambia.
Now that the crimes of these lawyers and their associated companies are public, it is the duty of the Zambian government to take strict actions against them and ensure that these activities are avoided in future.