The Lilongwe Chief Resident Magistrate on Tuesday dismissed the case which the Anti-Corruption Bureau (ACB) opened against CDH Investment Bank (CDH-IB) chief executive officer (CEO) Misheck Esau.
Esau has since described the case as a sledge hammer in his banking career.
In an interview soon after the court’s determination, the CDH-IB CEO said the court has pronounced the dismissal of the matter in clear language and that the matter was now formally dead.
Last month, the Director of Public Prosecution (DPP) Mary Kachale refused to grant ACB consent to prosecute Esau and CDH-IB.
Said Esau: “Personally, I also need to evaluate my options and make a decision about my future. As you can imagine, this was a sledge hammer in my banking career even as innocent as I was.”
Asked on his prospects of returning to work, he said: “The board of the bank will make that decision.”
Esau and CDH-IB were being accused of failure to conduct due diligence on Zameer Karim of Pioneer Investments who is being accused of theft of K466 million, contrary to Section 278 of the Penal Code, uttering a false document presented to CDH-IB to access a loan contrary to sections 356 and 360 of the Penal Code and acquiring proceeds of crime contrary to Section 42 (1) of the Financial Crimes Act.
Esau said: “The matter is now formally dead. It is very nice to be vindicated while one is still alive. I thank all the professionals that made professionalism prevail in this matter. The Lord is in control.
Msowoya said in an interview the dismissal meant that his client had no case against the State.
Recently, Ministry of Justice and Constitutional Affairs senior State advocate, who is also spokesperson for DPP, Pirirani Masanjala, told The Nation that the DPP’s refusal to grant ACB consent to prosecute Esau and CDH would have no impact on Karim, Botomani and Kachingwe’s case because the DPP gave directions under Section 76 (2) of the Corruptions Practices Act that the case should proceed.
“That case and the one in issue in law may be prosecuted separately. It is, therefore, in the interest of justice to proceed with that other case,” he said.
Karim, who is on record to have deposited K145 million into President Peter Mutharika’s Standard Bank account, will still be prosecuted.
ACB cleared Mutharika of wrongdoing, saying the President did not personally benefit from the transaction. The governing Democratic Progressive Party later pledged to refund the money to Pioneer Investments.
Bottoman was accused of uttering false documents while Kachingwe was charged with forging a document which was presented to CDHIB and allowed Karim to access the loan.