DEC arrests KBF for money laundering


Zambia Must Prosper President KELVIN BWALYA FUBE popularly known as KBF has arrested by the Drug Enforcement Commission -DEC- for failure to report a suspicious transaction.

DEC Spokesperson MATHIAS KAMANGA says failure to report a suspicious transaction is contrary to the Financial Intelligence Centre and Money Laundering Acts.

Mr. KAMANGA says KBF has been arrested together with Lusaka Businessman and Music Promoter BWALYA KALANDANYA, BEAUTY CHAMA, IBRAHIM MITHA and HASSAN HANIF MITHA for being in possession of goods reasonably believed to be proceeds of crime and money laundering.

He says Mr. KALANDANYA had changed title of his seven fully furnished apartments in Lusaka’s affluent Jesmondine area worth K6.1M to BEAUTY CHAMA without her knowledge.

Mr. KAMANGA adds that KBF then sold the flats to IBRAHIM MITHA and HASSAN HANIF MITHA on behalf of BEAUTY CHAMA without her ever knowing that she owned them.

He says the buyers claim they bought the flats through KBF.
Mr. KAMANGA says all suspects have since been released on police bond and will appear in court soon.
This is contained in a statement availed to ZNBC News in Lusaka today.


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