ACB pounces on Chaponda, Admarc officials
The Anti-corruption Bureau conducted a search and seizure exercise at the offices of Chaponda in Lilongwe and also his residence where they seized cash, in both local and foreign currencies, amounting to an accumulated figure of over K200 million, according to Reserve Bank of Malawi (RBM) and ACB sources.
But The Nation sources both at ACB and RBM—where the confiscated money have been taken for counting and safe keeping confirmed that some money in access of K160 million was indeed seized from Chaponda’s house.
The RBM source candidly affirmed the amount ACB brought before the bank was K124 million and $57 500 (K42 million) with some rands and pulla. But The Nation could not independently confirm the figures.
In Blantyre, the graft-busting body pounced on the offices and residences of some Admarc executives, including the chief executive officer Foster Mulumbe and director of operations Feckson Kantonga where they confiscated several files and computers.
Mulumbe is currently on forced leave he was given by Admarc board of directors to pave the way for investigations.
I can’t wait to see how the DPP zealots will spin this one! If my memory serves, foreign currency of that magnitude has to be changed into Kwacha within two weeks of bringing it into the country. And the whole optics of having K200M under the pillow don’t look good at all. I’d say he’s toast!