Details have emerged of how George Chaponda took Anti-Corruption Bureau (ACB) investigators on a tour of his property in Area 10 in Lilongwe after they confiscated at least K166 million at his official residence.
The dismissed Minister of Agriculture is said to have showed off some of his townhouses and flats in the high-end suburb to justify the wads of local and foreign currency found in his possession.
ACB deputy director Reyneck Matemba confirmed the unintended inspection of some assets of the prominent politician being investigated for his “suspicious role” in the controversial procurement of maize from Zambia.
A source disclosed that Chaponda further told the officers that he also holds many bank accounts abroad where he worked for United Nations (UN).
On Tuesday, investigators confiscated K124 million, $57 500, 2 720 Indian rupee, 518 Ethiopian birr, 610 Pula, 1 200 meticais, 1 250 Kenya shillings, 80 Hong Kong dollars, 1 010 Japanese yen, 22 370 South African rands, 55 euros, 29 Zambian kwacha and 100 Namibian dollar.
The insider at the Reserve Bank of Malawi hinted that the local banknotes were withdrawn four months ago.
“The teller tags show that K9 million was withdrawn from National Bank of Malawi Capital City Branch, K17 million from FMB at City Centre and K98.5 million was withdrawn from Standard Bank. All transactions happened in November 2016,” said the source.
A list of the assets Chaponda declared as of February 1 this year shows he has 20 real estate properties in Lilongwe, Blantyre, France, Luchenza, Mangochi, Thyolo and Chiradzulu.
The source of funds for the property, valued at K953 million, included bank loans and his earnings from the UN, United Kingdom, South Africa, France, his children abroad and Chaponda investments.