Inquiry on Bingu’s wealth yields no evidence of ‘Cashgate’: FIU to present analysis to Malawi Parliament

Inquiries and financial analysis into the wealth of former president the late Bingu wa Mutharika, which for years has been a subject of intense public debate, has yielded nothing both Anti-Corruption Bureau (ACB) and the Financial Intelligence Unit (FIU) will submit to  Public Accounts Committee of Parliament.

Bingu’s wealth faces probe

Yeremiah Chihana: Valued Bingu’s wealth at K61 billion but family disputed

The Committe has  summoned the two law enforcing agencies  to explain what they have found out about late Mutharika’s estate.

Mutharika, who led the country from 2004 until his death in April 2012, is widely believed to have accumulated  in excess of K61 billion in wealth in eight years— up from K150 million which he declared upon assuming the presidency in 2004.

The wealth was reportedly stashed in several bank accounts and assets abroad.

But ACB director general Lucas Kondowe said  they instituted an inquiry into the alleged accumulation of wealth of the former president through an international inquiry using international requests for information but that inquiry has not yielded any results.

Kondowe said there is  “no key information” to probe.

FIU which is expected ti present a financial analysis to parliament has also no information of ill-gotten wealth.

But FIU’s director Atuweni Phiri could not disuciss the financial analysis in the media.

PAC chairperson Alekeni Menyani said although the parliamentary committee wanted to establish whether  property valuer YMW Property Investment Limited  of Yeremiah Chihana  which was engaged by the Joyce Banda administration in 2012 was  that Mutharika’s deceased estate valued  K61 billion, a figure the family disputed. They also wanted to know the source of Mutharika’s wealth.

Minister of Justice and Constitutional Affairs Samuel Tembenu  said government has no evidence that money was stolen and also that there was any money outside the country.

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mjiba
Guest

The question which the stupid FIU and ACB has failed to provide to Malawians all these years on their investigations of corrupt officials in this country is UNEXPLAINED WEALTH. HOW DID BINGU AND ALL OTHER CORRUPT OFFICIALS GET ALL THIS MONEY?????????

b
Guest

Malawi land of untruth.

Luka
Guest

My infant grand-daughter would like to confirm the findings of the ACB and FIU. She has found no evidence of financial wrong-doing, and I’m sure that she tried just as hard as these organizations to find it.

Self Assessment & Conscious
Guest
Self Assessment & Conscious

Dear People of the World. Most especially you/we Malawians.
Even people on Hell’s list do look back sometimes and see what people remained behind here on Earth are misdoing.
Lies and stealing! & Killing!
Everybody accepts when dead.
I DON’T KNOW HOW DEAD PEOPLE FILLS. BUT I THINK.
no man has authority to judge bcoz of his sins/lies/stealing and killing etc. but its only God to judge because he is Holy.

Chimanga
Guest

well summarised joe , 70 years a minibus. 8 years 61 billion….. amene ali ndi makutu amve.

kawulira
Guest
The unfortunate scenario is that the opposition led committees in parliament are equally ignorant or unskilled to investigate all the atrocities currently facing the country or committed by politicians including themselves . All they want are falsified allowances in the name of investigation . It is only plausible to call for valuation reports that Yetemia Chihana produced and verify if his sources are reliable. K61 billion is not a joke and to travel the world over isn’t a joke also. There are several legal implications that may need to be satisfied before obtaining such valuable information. Chihana compiled the valuations… Read more »
Diffi
Guest
malawi economy was heavily dosturbed and as i am telling you, it is staggering just because of the 24bn that was looted in 2013. who remembers the effects of the 61bn being said? in my mind I see donors who left malawi coz of cash gate of 2013 i see the jet the mortuary that stopped working and corpse rot. i see the attempted murder of mphwiyo. can you see with me 61bn effects? yes donors left after cocrain dyte. they left after moya called them selfish for resisting subsidy….. jb a failure failed to at least catch of the… Read more »
observer
Guest

Malawi is a country of scams, ACB full of scams…FIU full of scams! these bosses are just keeping their jobs! there is no grain of truth in all ACB and FIU claims

JOE
Guest

Yaa, Bingu really worked hard for his K61 billion. From a mini bus driver in area 15 to K61B within 8 years of his presidency. Malawians let’s all be hard workers like him. The guy was a genius in his last 8 years considering that he worked and lived for 70 years only to afford a minibus all those years.

wpDiscuz

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