Fiscal Police in Blantyre have arrested a senior manager at NBS Bank and three others, including the banker’s house servant, for allegedly being embroiled in a K55 million fraud at FDH Bank.
The executive, Mathias Silumbu, who works as chief finance officer at NBS Bank, was picked by police on Tuesday at his workplace and has spent the last two nights at Blantyre Police Station.
Malawi Police Service (MPS) head of Fiscal and Fraud Section, Isaac Norman, confirmed in an interview yesterday about Silumbu’s arrest. He said the suspect is expected to be taken to court today to answer three charges.
Silumbu is alleged to have committed the crime earlier this year while working for FDH Bank as head of finance before his resignation to join NBS Bank as chief finance officer.
Said Norman: “We have charged him with three counts of theft by servant, fraudulent false accounting and money laundering contrary to Section 42 of the Financial Crimes Act.”
Norman said police investigations have established that after defrauding FDH Bank, Silumbu used to deposit the money into the bank account of his house servant (only identified as Gunda) and would later transfer the funds to his two other personal accounts with two different local commercial banks.
But Norman declined to disclose the identities of the two other suspects because, according to him, “they are very key in the ongoing investigations” of the case.
FDH Bank marketing officer Ronald Chimchere declined to comment on Silumbu’s arrest, referring The Nation to the bank’s managing director Eric Quattara who was not available.
Silumbu, a chartered accountant, is reported to have been transferring FDH Bank’s money from corporate account to his personal accounts through his servant’s bank account, according to sources.
In recent years, cases of fraud have increased in the country mostly involving senior officers both in public and private enterprises. Two weeks ago, Fiscal Police embarked on a manhunt for two Blantyre Water Board (BWB) employees who defrauded the water utility millions of kwacha through a bank account opened in the institution’s social welfare name. n