ACB rearrests Zameer Karim: Court revokes bail

The graft busting body, the Anti Corruption Bureau (ACB) has today re-arrested Asian businessman Zameer Karim of Pioneer Investments after the High Court revoked his bail.

ACB spokesperson Egritta Ndala has confirmed the arrest.

Karim was supposed to appear before the High Court in Lilongwe on Wednesday but he failed to show up forcing High Court judge Dorothy DeGabrielle to issue a warrant of arrest.

High Court of Malawi and Supreme Court of Appeal registrar Gladys Gondwe said in an interview Karim’s matter was coming before the judge to proceed for plea taking.

She said: “So, neither the suspect nor his lawyer showed up at the court and there was no explanation from them as to why. So, the court proceeded to revoke his bail and issued a warrant on whose strength he was arrested.”

ACB’s Ndala said Karim was being kept at Blantyre Police Station waiting to be remanded to prison until the next date of trial – May 18 2021.

The business tycoon was charged with intent to defraud Ecobank Malawi K850 million by allegedly obtaining fraudulently a loan purportedly guaranteed by the Malawi Police Service.

He was arrested alongside an employee of the bank and the two are accused of presenting a Notice of Assignment of Proceeds purporting to have been signed by MPS director of finance and his deputy undertaking to directly pay Ecobank K850 million as proceeds of a contract between police and Karim.