K1bn cashgate criminal proceeds: Malawi yet to decide how to dispose it

Government says it is yet to make a decision on how to use over K1 billion in cash and property realised from criminal proceeds of the infamous ‘cashgate’ scandal, the plunder of billions of money at Capital Hill in Lilongwe.

Reyneck Matemba, deputy director of graft busting body, the Anti Corruption Bureau (ACB) said the organisation will have to call for an indaba with officials from ministry of Finance and the Attorney General among others to discuss how to use the repossessed cash and property.

The High Court has so far convicted 10 people, including main cashgate payer Oswald Lutepo who stole K4.2 billion from the public purse.

“This issue involves more than one government agency to make a decision on how to dispose off proceeds of crime.

“The money belonged to the ministry of Finance, the attorney general and other officials from the ministry of Justice are also very much involved,” said Matemba.

ACB’s comment comes amid fears that some of the properties, including buses that have been parked for two years now, are losing monetary value.

Matemba, however, said the ACB would ensure that the property is disposed off as soon as possible. Trials for the cashgate are still going on.