As the mafia-led regime detected its exit ahead of June presidential election in 2020, the Reserve Bank of Malawi, which was under the leadership of Democratic Progressive Party (DPP)’s own steward Dalitso Kabambe, transferred a whooping Mk10.4 billion of government money to FDH bank owned by yet another DDp’s steward.
A forensic report that was carried out by Deloitte and published in May 2021 revealed that between 1st January 2019 and 30th June 2021, the Reserve Bank made unwarranted payment of MK10.4 billion to FDH Bank.
Pursuing this fraudulent transaction, the Director of Public Prosecutions, Dr. Steven Kayuni, wrote a letter of demand to the FDH Bank on 25th February this year.
The letter, which bore the reference number DPP/ADMIN/14X and addressed to the Chief Executive of the FDH Bank, indicated that the payment that Reserve Bank made to FDH Bank was “without any justification, without following laid down procedures” and therefore described as “money laundering activities”.
The Director of Public Prosecution further expressed that the K10.4 billion in the FDH Bank coffers was proceeds of crime and warned that pursuant to Financial Crimes Act, his office would institute civil forfeiture proceedings against the FDH Bank in order to recover the money to Government.
Nine months down the line, the FDH Bank has not paid the money back to government and no signs of intentions to do so can be seen.
Shire Times efforts to reach out to the Director of Public Prosecutions to find out when the civil forfeiture proceedings may start rolling went without success at the time of going to press.