The Drug Enforcement Commission through its Anti-Money Laundering Investigations Unit has arrested and charged seven (7) Directors who include four (04) from Ono Initiative Limited and three (03) from COMSAVE Credit Union for money laundering related offences involving K69.4 million.
DEC Public Officer Theresa Katongo says the four (04) Directors of Ono Initiative Limited are identified as Isaac Mvula, male aged 40, Ackim Mugala, male aged 39, Khuna Ncheema, male aged 65 and Chuunya Chilala, female aged 34.
Ms Katongo explains that particulars of the offence are that on dates unknown but between 1st December, 2018 and 21st July, 2020 the four (04) Directors of Ono Initiative limited jointly and whilst acting together with other persons unknown did conduct and provide financial services without a license by receiving deposits from the general public and issuing loans.
She says,further, they also engaged in a money circulation scheme where they advertised to the general public for people to save with Ono Initiative limited for a predetermined return under the guise that people were joining a village banking group when in fact not.
Ms Katongo in a statement to WAVE FM news says through this misrepresentation, they obtained ZMW 22, 576,772.00 from members of the general public and further engaged in money laundering activities by using proceeds of crime to buy thirty three (33) vehicles and twenty seven (27) houses.
Similarly, the three (03) Directors of COMSAVE Credit Union identified as Muleka Given, male aged 29, Onester Sondashi, female aged 33 and Collins Chilufya, male aged 42 conducted and provided financial services without a license by receiving deposits from the general public and issuing loans. They also advertised to the public for people to save with COMSAVE Credit Union for a predetermined return under the guise that people were joining a village banking group when in fact not.
She charges that through this misrepresentation, they obtained K46, 823, 545.04 from members of the general public.
According to DEC, the trio did engage in money laundering activities by using proceeds of crime to acquire property namely: two (02) Mercedes Benz, D2 Buses, 01 Toyota Runx, 01 COMSAVE School in Mazabuka and another in Monze.
Ms Katongo says the seven (07) who are currently on police bond have been charged for money laundering, conducting and providing financial services without a license, conducting a money circulation scheme, obtaining money by false pretenses and being in possession of property reasonably suspected to be proceeds of crime.
The suspects are expected to appear in court soon.