Probe discovers Bingu’s worth more than K61bn: Property, accounts in Singapore, Australia and Isle of Man

Viewed by many  as “wrongful self-enrichment’” when  a newspaper  exposed former President late Bingu wa Mutharika to have amassed K61 billion,  it has been reported that late Mutharika could be over the  reported K61 billion following revelations that he had more bank accounts and property in three other countries.

Mutharika, at the time of his ascendancy to the presidency in 2004, declared that he had K150 million worth of assets but true to accusations  prior to his death  that he had amassed worthy dubiously,  he ended up amassing assets amounting to K 61,350, 437, 237. 62.

And according to published reports on Tuesday,  the preliminary assessment of his estate has since revealed the figure could be higher as  the former president had accounts in more countries than earlier reported.

A  working file of  Yeremia Chihana of YMW Property Investment Limited and Registered Property Evaluator , contracted to assess Mutharika’s real estate, shares and stocks, bank balances, chattels and other assets, late Mutharika also had assets in Singapore, Australia and Isle of Man.

Bingu: Had more than K61 billion
Bingu: Had more than K61 billion

The files show that in Singapore, Mutharika had an account and three houses; in Australia, there are two presidential flats and a bank account while in the Isle of Man, there is a bank account.

When Mutharika was alive, Nyasa Times reported about the presidential flat in Australia, linked to Paladin  the uranium miner in Karonga, Malawi. The report was vehemently denied.

According to the  report, the Isle of Man account was used  by late Mutharika frequently.

On 30th May, 2013, deputy registrar general Geoffrey Nkhata wrote several banks asking them to remit duty to government and also pay part of the money to YMW Property Investment.

Mutharika, who was serving his second and final five-year term, died while in office in April last year. His brother, Peter Mutharika, is running for presidency next year.

Meanwhile, former first lady, Callista, who is conspicuously missing on the list of beneficiaries  of lake Mutharika’s ‘Last Will and Testament’ is challenging the will in court.  The will was written after the death of Mutharika’s  first wife Ethel in 2007

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