Fisd directors formally charged as court adjourns to 16, 17 July

The senior resident magistrate court in Lilongwe on Tuesday formally charged four Fisd Company Limited directors with conspiracy to defraud, theft by public servant, obtaining money by false pretence and money laundering.

This was after the State finally submitted formal charge sheets against the Fisd directors, namely; Moses Chirambo, Frank Mwenechanya, Kondwani Namchukwa and Arthur Mpama.

FISD Directors formally charged

But the four pleaded not guilty to the charges.

Hearing of their case, now presided over by senior resident magistrate Florence Sekandiwana, has since been adjourned to 16 and 17 July where the State, which prayed for the adjournment, will be expected to parade its witnesses.

But Fisd lawyer, Gift Nankhuni, reiterated his displeasure at the slow pace the case is taking, saying the State was actually supposed to present these formal charges way back.

However, Nankhuni said he is ready to defend his clients in court on 16 and 17 July.

“I will not say much now because the matter is in court. But we are ready on our part. We will defend our clients accordingly,” said Nankhuni.

The Fisd directors were arrested in November 2020 on allegations of conspiracy to defraud, theft by public servant, forgery, uttering false documents, obtaining money by false pretence and money laundering.

Tuesday court appearance came after more than four “unfruitful” appearances during which the State had asked for adjournments in order to “wind up” investigations.

The arrest of the four Fisd directors came on the back of a protracted legal wrangle in the High Court of Malawi Commercial Division between Fisd Limited and Government and the African Development Bank (AFDB) on the management of a water supply project in Ntcheu.

After their arrest last year, the Fisd directors were remanded to Maula prison for five days until their being granted bail on November 13, 2020.

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