Court forfeits properties linked to Laurence Paul Investment to state!
The Economic and Financial Crimes Court has ordered the forfeiture of several properties and funds to the state, suspected to be proceeds of crime linked to Laurence Paul Investment Service Limited and other interested parties.
Among the forfeited assets are a four-bedroom incomplete house located in Chilanga District and a two-storey building. The court also forfeited 9.5 hectares of land in Chirundu District, which was deemed to be acquired through illicit means.
Additionally, motor vehicles belonging to various interested parties were forfeited to the state, having been identified as proceeds of crime.
The court further ordered the forfeiture of over 24,000 Kwacha held by Laurence Paul Investment Service Limited in a named bank. The funds were determined to belong to clients who had invested in the company.
This ruling follows a non-conviction-based forfeiture process, in which the court determined that the properties were tainted and linked to criminal activity.
The application for forfeiture was filed by Director of Public Prosecutions Gilbert Phiri, pursuant to Sections 29 and 31 of the Forfeiture of Proceeds of Crime Act No. 19 of 2010. Mr. Phiri also relied on Order Three, Rules 15 and 17 of the High Court Rules.
Seven interested parties, including Laurence Paul Investment Service Limited, opposed the application but were unsuccessful in their challenge.
-ZNBC