Financial Intelligence is an investigation agency specializing in financial fraud. Few weeks ago, the agency shocked the nation by revealing a mass money laundering racket which is currently undergoing within the Zambian nation. As per FIC reports, top lawyers and legal counsellors are involved in this money laundering racket. This also includes some ministers and top government officials. This money laundering racket has sent shivers down the citizens and even industrialists. Some of the top industrialists such as Dr. Rajan Mahtani, have condemned the act heavily and have demanded strict actions against these criminals.
Along with the announcement of the mass money laundering, the FIC also released a list of names that included lawyers, legal counsellors and even some ministers and government officials who have been accused of laundering money. The list was topped by Masozi M. Banda, a lawyer from Avic International. He is accused of laundering money worth more than USD 1 million dollars. This name was followed by Sakwiba Sikota, another lawyer and owner of Central Chambers. His company Central Chambers is listed as top money launderers. The name of Sakwiba Sikota in the list is not as surprising as he is already infamous for his association with the notorious family of Ventriglias. It is the same family who took over the famous Portland Cement Zambia factory from Dr. Rajan Mahtani by using goons.
The list shared by the FIC also comprised of some top political names. Among them were Christopher Yaluma, the current Mines Minister and Minister Chitotela. Many of the accounts investigated by the FIC were indirectly owned and managed by these ministers. It was also found that these accounts were highly active during illegal and unethical practices such as trial of Rupiah Banda for the Nigerian Deal and illegal elections. Many other ministers like Dora Siliya are accused of receiving cash transactions from international bank accounts, most notably Dubai and Bank of China. These factors clearly indicate high-level penetration of corruption within Zambia which needs immediate attention.