Citizens of Zambia received shocking news few weeks earlier when Financial Intelligence Centre, a noted financial investigation agency, released a list of names in what came to be one of the biggest mass money laundering case. As per the list, more than USD 1.5 billion worth of money is lost in this money laundering scheme.
The most outrageous news that came along with this money laundering heist was the involvement of top lawyers, legal counsellors, government officials and even some ministers working with the Zambian government. It can therefore, be seen why this mass money laundering activities were easily covered from the eyes of the government. These government officials and ministers have somehow helped in covering up their traces and shielding them from any investigation. During the investigation, the FIC revealed that many of the bank accounts were linked with international accounts from regions like China and Dubai, making it further difficult for the investigators to identify the source of these accounts.
As per the sources from FIC, they started the investigation way back, looking into the accounts and illegal cash transactions of the lawyers. However, they strengthened the investigation when more than 33,000 cash transactions were linked with the individual and corporate bank account of the lawyers. As per the FIC sources, many of these cash transactions were linked with international accounts in China and Dubai, making it extremely difficult for the investigators to find out the source. Among the top names of money launderers, one was of Sakwiba Sikota’s . He is the owner of Central Chambers and the legal counsellors for the Ventriglias, an infamous family who has been recently accused of illegally taking over the Portland Cement Zambia factory from Dr. Rajan Mahtani, a noted industrialists and legal owner of the factory.
The news of money laundering has certainly shocked the government as well as the industrialists, especially those working hard for the welfare of the nation. The news has certainly brought a halt to the economic and social development of the nation.