The Anti-Corruption Bureau (ACB) yesterday rearrested Asian business tycoon Zameer Karim of Pioneer Investments after High Court judge Dorothy DeGabrielle revoked his bail.
The businessperson was supposed to appear before the High Court in Lilongwe on Wednesday but he failed to show up forcing DeGabrielle to issue a warrant of arrest.
ACB principal public relations officer Egrita Ndala yesterday confirmed arresting Karim, saying he was being kept in custody at Blantyre Police Station awaiting to be remanded at Chichiri Prison.
High Court of Malawi and Supreme Court of Appeal registrar Gladys Gondwe said in an interview Karim’s matter was coming before the judge to proceed for plea taking.
She said: “So, neither the suspect nor his lawyer showed up at the court and there was no explanation from them as to why. So, the court proceeded to revoke his bail and issued a warrant on whose strength he was arrested.”
Karim was arrested in November 2020 by Fiscal Police and charged with intent to defraud Ecobank Malawi K850 million by allegedly fraudulently obtaining a loan purportedly guaranteed by Malawi Police Service (MPS).
He was arrested alongside an employee of the bank and the two are accused of presenting a Notice of Assignment of Proceeds purporting to have been signed by MPS director of finance and his deputy undertaking to directly pay Ecobank K850 million as proceeds of a contract between police and Karim.
The businessperson is expected to remain on remand at Chichiri Prison until May 18 2021 when the High Court is scheduled to proceed with his case