3 FDH bank employees arrested over K110 million fraud – Malawi Fiscal Police

Fiscal Section of Malawi Police in Blantyre has arrested three employees of FDH Bank over a fraud amounting top K110.8 million.

FDH  bank defrauded K110.8 million: Inside job

The arrested FDH Bank employees have been identified as James Gwaza, Mphatso Njala and Ronald Madondolo.

Head of Fiscal and Fraud Section, Isaac Norman, confirmed the arrest, saying they three worked in the bank’s Finance and Treasury Department were Njala and Gwaza were supervisors. Mandolo works as a clerk.

He said investigation shows the scam was done between October 2016 and July 2017.

Norman said  Madondolo and Njala are also connected to another  operation of a K55 million fraud at FDH Bank which led to the arrest of the bank’s former executive, Mathias Silumbu, who  now works as chief finance officer at NBS Bank

Silumbu is alleged to have committed the crime earlier this year while working for FDH Bank as head of finance before his resignation to join NBS Bank as chief finance officer.

“According to our investigations to the matter, Njala and Madondolo were being used by Silumbu,” Norman said.

But after being carried away with the defrauding, Njala did open other three bank accounts and transferred about K55.8 million without the knowledge of Silumbu.

Norman said police investigations have established that after defrauding FDH Bank, Silumbu used to deposit the money into the bank account of his house servant (only identified as Gunda) and would later transfer the funds to his two other personal accounts with two different local commercial banks.

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Rashied
Guest

Theirs no hope for Malawi every time cases why but every body money but not that way

Anzijo
Guest

Tiye nayoni paja bank ineneinso inachita kubedwa from MSB simunati mukuzunzisa anthu osalakwa kuachosa ntchito…simunati bravoo

Kumchulesi
Guest

Aliyense amaba zikavuta. A cash gate aja bwa?

getrude
Guest

kikiki norman ameneyo . musamathe mau. mwakhalira ndalama za anthu. la 40 likwanadi sikale

Proud Malawian
Guest

How do we trust them as custodians of our money? seriously Malawians are getting to another level in as far as fraud is concerned.

Gupta
Guest

This Norman guy and his friends, Bonongwe (now head of CID) and Nayeja are the biggest thieves in the country .

Mr . Norman ndi ka accounting qualification kogogodera nde amaziona ngati dolo heavy. ACB , you should investigate these thieves masquerading as cops asap

fatuma
Guest

Ukagogodera nde si pepala? Nsanje wadya kwambiri chipere. Ine nditazipezelela ndinyamula basi.

wpDiscuz

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