EVIDENCE in a case Francis Muchemwa, alias Commander II, is facing corruption allegations shows that K10.1 million gross profit made by his company Altitude Property Zambia was never declared to Zambia Revenue Authority (ZRA).
The accused also failed to show proof that The Frill Pub and Grill, where he is director, declared K6.2 million profit realised between 2012 and 2022 to ZRA.
Asked by Anti-Corruption Commission (ACC) senior legal and prosecutions officer Daniel Ngwira if he was aware that his company was obliged to declare returns to ZRA, Muchemwa replied affirmatively.
Muchemwa, who is jointly charged with Friltec Networks Zambia Limited and Altitude Property Zambia, is accused of possession of property suspected of being proceeds of crime.
He is also accused of illegally receiving K141,400 from Zesco for the alleged trips he undertook, yet never filed an activity report or a retirement imprest upon returning.
The accused denied the allegations before Lusaka chief resident magistrate Davies Chibwili but were last October found with a case to answer and placed on defence.
In defence, Muchemwa said his possessions are legitimate and tabulated how he conducted business and made profits.
READ MORE: https://shorturl.at/sGLNT
K10million in two years from a capital outlay of K15,000? And no tax paid to ZRA? Who in his right mind would endanger such a lucrative business by not paying tax?
Mr. Muchima’s story doesnot add up. With this kind of profitable business, what was he doing “working” for Zesco? Is he still making this kind of money after PF was voted out?
Zambia is truly a looters’ paradise!!
In PF ranks, this is acceptable. And he said it in court because he thinks the prosecutors, and indeed the court itself, are stupid.
From K15000 to K10 million. Imagine the kind of theft that was going on under PF.