Indigenous Business Association of Malawi (Ibam) president Mike Mlombwa was on Monday arrested by Police.
National Police spokesman Davie Chingwalu confirmed to Nyasa Times that Mlombwa was arrested on theft charges.
“Yes Mr Mlombwa has been arrested. He is in Police custody,” Chingwalu confirmed.
He said the arrest comes after a complaint was lodged to Police by a man that Mlombwa did not remit about K9 million on a business deal.
Nyasa Times understands that a lawyer friend of Mlombwa, Mr Chisale, gave Mlombwa his car to be used by his Car Hire firm, Countrywide, for a contract with government.
However, when Mlombwa was paid his dues, he allegedly did not give Chisale his “appropriate cut.”
This prompted Chisale to complain to Police.
Meanwhile, Mlobwa was released on bail, Tuesday.
His lawyer Masauko Nsungama confirmed the release saying among other conditions his client has been ordered to be reporting to Blantyre police every fortnight.