Cash to buy freedom for Indian investor as Mahomed of Mozimpex Malawi in K3.2bn forex scam

Money is exchanging hands between Indian businessman Chandrashekar More  and authorities in Malawi as he tries to bribe his way to freedom on issues he is confronted with in the country.

Indian High Commissioner Kumar Menon: More treated as special one

More   was arrested after  Malawi Revenue Authority (MRA)  ordered his arrest for not filing a tax return.

But he is reportedly giving “cash” to sweeten authorities to clear his cases and allow him to do business in the country.

Nyasa Times understands that More has “sweetened” MRA officials and has been to Immigration Department as well as the Judiciary to buy his way of freedom.

“He was here and dishes out cash to some authorities,” a whistle blower at Immigration Department told Nyasa Times.

More launched Mansi international company in 2006 and only paid tax in 2010 and then sarted another company in a multibillion-kwacha agribusiness Tamanna Solvex Africa  in 2013 .

The Indian and his family then went to India after being granted bail on tax crimes of about K8 million.

Indian High Commission in Lilongwe is helping More to buy his freedom.

Nyasa Times understands that the Indian High Commission has had meetings with MRA director Felix Tambulasi and Mesy Chalunda the head  of internal matters in the tax body to discuss with the authorities towards closure of the court case that has been lodged against him.

The Indian High Commission opts for withdraw of the case.

The Commission also fixed a meeting for More with MRA.

More cannot use any Malawian lawyer  for fear that they  are either not competent or compromised, and his India-based lawyer, Neelkanth Aher is accompanying him

The Indian accuses Malawi government of  “grabbing the properties of foreign investors who are investing in Malawi” .

His lawyer Aher says the charges against More were “so baseless and viciously motivated”

Forex scam

Meanwhile, the Reserve Bank of Malawi (RBM)  has dragged to court a Blantyre-based businessperson Mahomed Rafiq Amad for alleged externalisation of $4 362 000 (about K3.2 billion at current rate).

Amad was allegedly externalising foreign currency through his Intertrade Agency and Mozimpex Malawi and Mozimpex Mozambique companies, in which he had controlling interests, on the pretext of importing goods which were never brought into the country.

According to court documents Amad was illegally transferring foreign currency through use of forged import documents and RBM discovered suspicious transactions with respect to a bank account opened on August 13 2013 held at one of the commercial banks to the credit of Intertrade Agency.

Using this Intertrade Agency account, Amad is alleged to have been remitting foreign currency to Vic Charm in Hong Kong for importation of cotton seeds yet no importation was done.

Amad has hired  private practice lawyer Frank Mbeta  to defend him.

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2 thoughts on “Cash to buy freedom for Indian investor as Mahomed of Mozimpex Malawi in K3.2bn forex scam”

  1. ProudAfrican says:

    When this Mutharika generation is gone. These Indians will stop exploiting this country once and for all. The younger generation is too proud to have these unscrupulous lot taking our kindness for weakness. The time will come when most of them will spend time long periods in prison.

  2. Rift Valley says:

    With DPP at the helm, anything can happen in Malawi, especially where money is involved. Shame!!!!!

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