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.

ACB's Matemba: There will be an indaba
ACB’s Matemba: There will be an indaba

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.

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tulo amalawi
4 years ago

only 1billion and they ate 577 billion and u ve spent 300 billion on the cases any logic here shaaaa!

Victor
4 years ago

This is as good at stealing or wasting the money.

2 whole years and those buses are still rotting?

I have seen them at MAN/TEM garage in Chirimba. The parts for sure will be ‘borrowed’ for their workshop.

And the rest of the stolen proceeds? They will not increase in value sitting there.

ACB and Ministry of Finance, come to a decision. It is long overdue!

Are you listening Mr. The Right Honourable Goodall Gondwe??

Clive
Clive
4 years ago

MULIBE MANYAZI INDABA YA CHANI THAT’S ZULU WORD TAUZANI A MALAWI CHICHEWA MUPITA CHIPINDA CHOMATA, MUZIKAKAMBILANA AMALAWI AKUFA NJALA, NGATI MUKUDYA KWANUKO WAIT 4 THAT INDABA.

mavuto
mavuto
4 years ago

Koma anthu inu muli serious? Mmene achulukira mavuto m’dzikomo ndikumati simunaganize mmene mungagwiritsire ntchito ndalama zochockoera ku milandu ya kuwonongeka kwa ndalama m’dzikomo? Zoona zimenezi a Malawi anzanga? Haaaayi

atoti
atoti
4 years ago

Try buying drugs, maize

Ngalamayi
Ngalamayi
4 years ago

Is this progress that will reassure donors, investors? Do we know the sentences received by those 10 who’ve been convicted? How many are in jail now? More of this openness will give people confidence in a government which seemed intent on covering up the misdeeds of those high up in power… or are these convicted just ‘small fish’ in this scandal?

NAMAKHWA
NAMAKHWA
4 years ago

MONSEMUJA TINAMVA
ZOTI MA BUS AKUNGOWONONGEKA
SIMUNAKAMBILANEBE
ZOTI MUGULITSE
NDALAMAZO ZIGWIRE
NTCHITO YOGULIRA
CHIMANGA NDI MANKHWALA
MZIPATALA WANTHU AKUFA

INU BASI BUSY NDI
MAPWEVUPWEVU ???

Akungolonje
Akungolonje
4 years ago

Bora nanunso musabenso ndikungogwinyinira into your pockets, put it to the best disposal for the betterment of the nation and the staggering economy.

kukhala
kukhala
4 years ago

PLEASE EDUCATE WHY DO SEE THE WORD INDABA FEATURING IN OUR MEDIA OR DOES INDABA MEAN ?

Tap tap
Tap tap
4 years ago

Sickening business! Take funds back where they came from. This is why cashgaters would say the money was not stollen because no government department has evidence for loss of funds!

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