Probe HTD Limited on cashgate affair without fear or favour -Mutharika

Malawi President Peter Mutharika has instructed Anti Corruption Bureau (ACB), Financial Intelligence Unit and tax collecting body MRA to thoroughly investigate HTD Limited on leads that they have been enjoying the favours of the government pay-out thought to have been made against dubious transactions – cashgate – where they were involve in illegal externalization of forex and money laundering, Nyasa Times understands.

HTD boss (right) with President Mutharika at the launch of Abdul Majid Motor City

HTD boss (right) with President Mutharika at the launch of Abdul Majid Motor City

Reports indicate HTD Limited were implicated with some cashgate cheques and that they externalised forex to UK where the company managers have the British citizenship.

The President has told the law enforcement agencies to do their job professionally and that he has nothing to do with the company.

“I have nothing to do with HTD. If they are found to be in the wrong, let the law take its course,” the President is said to have told investigators.

HTD Limited is alleged to have received payments from Malawi Defence Force without supplying items.

On 20th August 2013, HTD received two payments from MDF vote amounting to K 331,975,000 and K 300,000,000 through cheque numbers 210600 and 210601, respectively.

Closer examination of the cheques reveals that the two cheques were issued same day and on consecutive cheque leaves. This is one characteristic of cash gate cheques and an audit query.

HTD registered owners are: Anawar Mahomed Sidik and Abudul Haris Mahomed Sidik, both British Passport holders.

They hold bank accounts at 5 different commercial banks. Two of the Banks are frequently ususpected of being used for forex externalization mostly to Iveco Company (RSA) Vehicle delivery Services (RSA) KIA Motors Corporation (South Korea) Red Sea Trading (Hong Kong), Guava International (UK), Reinder (Hong Kong) and Mobis Parts Middle East.

British Prime Minister David Cameron promises to act against corrupt foreigners who buy up luxury properties in the UK using secretive holding companies to hide their “dirty money”.

Cameron vows that UK must not become a safe haven for plundered or laundered cash.

Investigations have revealed that only Iveco, Guava and KIA are the suppliers of the vehicles. Vehicle Delivery Services, a division of Onelogix (Pty) Ltd is a major operator in auto-logistics throughout the Southern African region. These could be in no doubt the likely transporters of the vehicles from South Africa to Malawi.

However, documents we have seen show that invoices from KIA and Guava International are CIF inclusive to Blantyre. This means there was no need to externalize funds to different transport players as vehicle freight is already included in the supplier invoice.

In some cases, payments were made to different name from the invoice. This is despite invoice carrying correct Bank details for the supplier.

Biggest beneficiary appears to be Red Sea Trading and they are for different items. On a particular invoice they were charging for Transporting Range Rovers while at another point it was just described as furniture.

Nyasa Times investigations have also revealed that Red Sea trade in many things, however Cars are not part of their business.

But on a number of invoices, Red Sea charged thousands of US Dollars for shipping a vehicle from South Korea to Durban despite invoice from South Korea indicating CIF. Red Sea Trading further quoted HTD Limited hundreds of US Dollars for furniture for its offices.

Despite paying KIA Motors for vehicles, they seem to be also paying Reindeer Associates, based in Hong Kong, for KIA vehicles. Invoices from Reindeer Associates have CIF to Blantyre via Durban and therefore no need for HTD to pay a transporter.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From the World

Sort by:   newest | oldest | most voted
Sahil Patel
Guest
Nyasa times need to behave and not make any false allegations on these innocent people, these guys are genuine Malawians who are investing in malawi to strengthen the economy……… Which African or let’s say Malawian has ever in history invested in malawi like these people they have not only gave city of Blantyre a face lift but have gave the country a face lift. And then we get people who talk rubbish and write stupid comments. Hard work always pays. So let’s not talk crap, and wish these hard working people good luck and support them in making the economy… Read more »
The Patriot
Guest
Koma comment number 30! Eish, mudzafa ndi nsanjetu inu? Atumbuka nkhani yawakhuza chani?? There are some people who will always blame Tumbukas for their own failures! Alephere kupita ku College chifukwa Atumbuka! Asapeze ncthito, koma atumbuka! Just reminds me of Xenophobia! Everyone blamed the South Africans for this heinous act of killing people just because they were foreigners. Now in Malawi someone accuses Tumbukas of building houses in the Center or South, what kind of nonsense is that? Ndiye abale anu akathamangitsidwa ku SA muziti akulakwa? Inu mukupangila nsanje a Malawi anzanu!! Eish, no wonder pa National anthem anaikapo, mau… Read more »
asimenye Gondwe
Guest

that’s the way to go my president, root out corruption and ignore ntata

Titanic
Guest
I wonder how a story concerning a mwenye attracts Tumbuka phobia comments. This is typical failures behaviour. They always try to find scape goats for their failure. In Malawi the over populated southern region blames Tumbukas for their failure to get employment or college education. They haven’t yet realised that even the central region is now beating them at education and employment opportunities becz they have similar sir names they cannot see it. Hitler blamed Jews for owning businesses and taking over education. He however found no problem employing highly intelligent jews to develop weapons for him. The Tutsi’s blamed… Read more »
best advice
Guest

ok so all th iveco trucks,kia cars etc th army have fell from heaven?dont worry my brother pray surah yaseen after fajr and mke dua to Allah to mke it easy for u ameen

Rift valley
Guest
Koma abale zotukwananazi zisiyike. This why I miss Kamuzu who said over and over again that there is no Tumbuka, Mchewa,.Lhomwe, Yao etc. What have we got now that he is gone? Mulakho this, Kulambva that, Yao this etc,etc. What a shame. Malawi will never advance with such type of mentality. Imagine , even a country’s President being a patron of one tribe instead of the whole nation! On a different note, did not APM tell the Nation MSB issue would be investigated before final deceision? What happened a few days after budget? Who can trust him with such disregard… Read more »
George Malopa
Guest
Withall due respect to my fellow Malawians, the reason why we don’t progress positively is because we tend to blame a whole community when a person has commited fellony from the same community/tribe/cast, I mean look at our comments! This issue has nothing to do with tumbukas, lhomwes whatsoever, yet we even have the audacity we blame the whole of Indians(“mwenyes”), I mean yes there a few Indians who are crooks but look again people the names are the same eg mapeto, Karims (lido), Abdul majid htd and so and so on you will never see the likes of people… Read more »
MWAPIYA MULHUPALI
Guest

If you are sinncere with your proposal just invite FBI and Scotland Yard to work on the matter. You are relying on ACB because it is at your beck and call. Everyone knows ACB can not in any way expose any wrong doing on your part or cronies.They will be working on your instructions.So do not pull a wool over our eyes.

wokwiya
Guest
Muwisho, You are out of order, the tumbukas don’t only have degrees from universities of Malawi but also from well known world class universities. Do you think they have been stealing examz in all the schools they have been to? I am one of the educated tumbuka and I can challenge you, my degrees are not only from local universities but also from world class universities where I outclassed dunderheads like you. Your grandparents left a legacy of vendetta against tumbukas in you. Wake up and wash your dirty eyes to see. Nowadays, we talk about global advancements and the… Read more »
Chawaka
Guest

Can the British Government see why they should not trust Indians with their products? They punished our own Malawians by giving them difficult conditions in order to fail on the Land Rover dealership because another Indian managed Company of Osmans implicated them with ACB just because they lost dealership of Land Rover to these Malawians who eventually were acquirtted by our courts. Land Rover UK are you not ashamed now? You wanted to trust these thieves now look. How can we buy from these crooks milking an already thin cow – Malawi? Look at these genuine Malawians.

wpDiscuz

More From Nyasatimes