13 July 2012

Zambia: Banker, Sister in Hot Soup Over K200 Million Fraud

A BANK employee and his sister have been arrested for alleged fraud involving more than K200 million.

Michael Mulembe, 31, a monitoring and control officer of a named bank has been arrested for fraudulent false accounting, theft by servant and money laundering.

His sister, Melinda and another person identified as Chris Zulu have been arrested in connection with the same case in which money from the financial institution is alleged to have been siphoned into two personal accounts.

Mulembe is alleged to have fraudulently credited Melinda's and Zulu's accounts with K150, 337,856.60 and K76, 445,978.22 respectively, from the bank's Trading Profit and Loss account.

Drug Enforcement Commission (DEC) spokesperson, Samuel Silomba who confirmed the arrests said the alleged fraud happened between January 1, last year and July 5, this year.

Mr Silomba said the money was later withdrawn using Melinda's and Zulu's Automated Teller Machine (ATM) cards and invested into personal luxuries.

The commission arrested and separately charged Melinda Mulembe and Zulu for theft and money laundering.

"The two received K150, 337,852 and K76, 445,978 respectively, stolen from a named bank and fraudulently credited into their accounts. The three suspects would appear in court soon," Mr Silomba said.

In Chingola, thieves broke into a shop in the town centre and stole K195 million cash.

The thieves were believed to have entered the shop before the owner, a Mr Shirag Patel, locked up the premises after knocking off around 17.00 hours.

Copperbelt Police chief, Mary Tembo said on July 6, that Mr Patel locked up his premises, Antheneon, without knowing that there were other people in the shop.

The thieves later ripped off the iron sheets and left the shop.

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