ACB freezes 33 bank accounts in Malawi cash leak saga

Malawi’s graft busting body the Anti-Corruption bureau (ACB) has frozen at least 33 bank accounts suspected to be part of a massive corruption that rocked the seat of government Capitol Hill, Bureau Director Rizine Mzikamanda has revealed.

Mzikamanda made the revelation when he appeared before the parliamentary Public Accounts Committee (Pac) in Lilongwe on Thursday.

“Statistically, we have managed to restrict 33 private and public accounts. We have arrested eight people and more will continue to be arrested as we continue the verification of the Financial Intelligence Unit (FIU) reports and our own investigations,” he said.

The ACB further confirmed that it has solicited the support of British finance analysts to help it solve the puzzles of one of the country’s biggest government fraud cases christened cash-gate.

“We have established a dedicated bureau called the Forensic Unit because we consider the matter to be very technical and complex. It will also provide credibility to the investigations,” said Mzikamanda.

Head pf FIU Atuweni-Tupochile Phiri: Clarifies
Head pf FIU Atuweni-Tupochile Phiri:  Transactions date as far back as 2009

He said the British experts are likely to jet in Sunday and are expected to be in the country for three months but the ACB boss s is the course of the investigations will determine the length of their stay.

Mzikamanda clarified that the unit is separate from the forensic audit team at that Auditor General’s office although that both of them are being beefed up by the British experts.

This week the FIU told PAC that about K20 billion could have been stolen in the unravelling cash-gate.

FIU also disclosed that it was “considering and analysing” 50 companies that could have been involved in the scam.

Acting Director of FIU Atuweni Tupochile Phiri said the transactions date as far back as 2009, adding that investigations are still underway.

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