Nicked NBS Bank Chief Finance Officer Mathius Silumbu recently approached a property management firm to help him buy a K70 million home, Nyasa Times can exclusively reveal.
Silumbu was arrested on Tuesday following a Fiscal Police probe over his role in a fraud which was detected at his former place of work, FDB Bank, where he is alleged to have stolen K55 million.
Insiders at Fiscal Police confided in Nyasa Times that their investigations have revealed that recently Silumbu approached a property management firm, Broll Malawi to help him buy a K70 million.
“He told them he had this money in cash and there was no need to get a bank loan and told them to expedite the search of the K70 million pad in the suburbs of Blantyre,” said one of the investigators who did not want to be named.
Investigation have revealed that the figure has now risen to a whopping K120 million which Silumbu is alleged to have defrauded his former employer over a period of three years.
“He took details of his houseboy and opened an account which he was controlling and was depositing money into this account and he would transfer the money into his other accounts at different banks. This has been happening for the past three years,” said the source.
“When his junior colleagues noted that the boss was ‘stealing’ from the company, they also joined the fryy and looted their share,” added the source.
Insiders at FDH said four employees from the finance department have been suspended as a result of the development.
Fiscal Police in Blantyre have also arrested the banker’s house servant. Silumbu, a chartered accountant, is reported to have been transferring FDH Bank’s money from corporate account to his personal accounts through his servant’s bank account.
Malawi Police Service (MPS) head of Fiscal and Fraud Section, Isaac Norman, said they have charged Sulumbu with three counts of theft by servant, fraudulent false accounting and money laundering contrary to Section 42 of the Financial Crimes Act.