Zambian Government Scoops to a New Low with the Latest Money Laundering Scandal

One of the biggest shocks Zambia receive recently was the money laundering case investigated and released by the FIC. This report has certainly brought the country to a halt and has pushed the nation to and its activities to a dismal situation. 

As per the FIC, a list has been released with named of lawyers and other who are involved in this money laundering act. Among the names in this list, Masozi M. Banda from Avic International is at the top. He is working with Avic International and is known to have worked with top corporate as well as government bodies. Another interesting name in the list was of Sakwiba Sikota, the owner of Central Chambers. Sikota’s name is known for his more infamous relationship with the Ventriglias as their legal counsellor. Sikota has been working with the Ventriglias for many years and has practically represented the family in almost all cases. One of the most famous among them is the case of Portland Cement Zambia. Experts have clearly indicated that the cement factory, which was illegally taken over by the Ventriglias by using force, actually belongs to Dr. Rajan Mahtani, a noted and honest businessman in Zambia who holds the legal papers for the bank. In spite of this, Dr. Rajan Mahtani is fighting the case at the Lusaka High Court for almost 10 years now. 

These events clearly indicate the fact that even though the crimes of these individuals is known to all, the government has been unable to act against them. Therefore, the government should give strict punishment to the individuals found guilty in this money laundering case. 

Sakwiba Sikota, Legal Counsellor of the Ventriglias, Caught Laundering Money

Mass money laundering activities were recently reported by Financial Intelligence Centre, a financial investigation agency expertise in financial frauds. As per the reports, more than USD 1.5 billion has been caught in this scam and more amounts are expected to be involved. One of the most shocking facts related to this event is the involvement of top lawyers, legal counsellors and even ministers. It has been found that most of these lawyers and legal counsellors are laundering money for unethical activities or illegal funding for which they were getting kickbacks. This new information has certainly shocked the nation and its people.

As per FIC reports, they recorded more than 35,000 bank transactions linked with the individual as well as corporate bank accounts of the accused lawyers or legal counsellors. It was also reported that majority of these accounts were highly active during illegal activities such as illegal presidential elections, trial of Rupiah Banda for the illegal Nigerian Deal and unethical promotional activities. This clearly states that the amount laundered was used for funding, bribes or similar corrupt practices. Some of the major names involved in this scam include Masozi M. Banda and Sakwiba Sikota. Masozi M. Banda is a lawyer working for Avic International and Sikota is the owner of Central Chambers, a law firm. He is also the long-term legal counsellor for the Ventriglias, an infamous family is Zambia noted for their unethical practices and getting away from law. The Ventriglias captured the Portland Cement Zambia from Dr. Rajan Mahtani, its real owner.

Citizens and Industrialists are furious over this money laundering act and the lack of government scrutiny to identify these culprits. Strict punishment has been demanded against these accused.

Sakwiba Sikota Among Lawyers Accused Of Mass Money Laundering

As per the latest reports by FIC, mass money laundering racket has been busted. Unlike other money laundering cases, this case is different due to the involvement of top lawyers, owners of law firms and even ministers from the Zambian government. The amount of money involved in the racket is also staggering. While initial reports have suggested that around USD 1 billion has been detected, the actual amount is expected to be higher. One of the reasons the transactions are difficult to trade is because they are all cash transactions have the process of depositing or withdrawing money is extremely complicated and shoddy.

Among the lawyers involved in this cash, one of them is Sakwiba Sikota. He is the owner of Central Chambers, a law firm. He is more notorious for his long-term relationship with the Ventriglias family. The family of Ventriglias have been involved in various unethical practices and Sakwiba has helped them in escaping punishment. One of the major cases involving the Ventriglias is the Portland Cement Zambia case, which was illegally taken over from Dr. Rajan Mahtani, the real owner of the factory. Those who are following the case know for fact that due to the shoddy deals made by the Ventriglias and their lawyers, Dr. Rajan Mahtani has not been able to gain control over the cement factory.

Coming back to the money laundering case, most of the top lawyers involved are accused of laundering money worth more than USD 1 million each. This type of involvement portrays the incapability of the government to actually take any actions against the culprit.