The Drug Enforcement Commission (DEC) through its Anti-Money Laundering Investigations Unit has arrested and charged seven directors who include four from Ono Initiative Limited and three from COMSAVE Credit Union for money laundering related offences involving K69.4 million.
According to a statement issued by DEC public relations officer Theresa Katongo, the four Directors of Ono Initiative Limited are; Isaac Mvula, male aged 40, Ackim Mugala, male aged 39, Khuna Ncheema, male aged 65 and Chuunya Chilala, female aged 34.
Particulars of the offence are that on dates unknown but between 1st December 1, 2018 and July 21, 2020 the four directors of Ono Initiative limited jointly and whilst acting together with other persons unknown did conduct and provide financial services without a license by receiving deposits from the general public and issuing loans.
Through this misrepresentation, they obtained ZMW 22, 576,772.00 from members of the general public and further engaged in money laundering activities by using proceeds of crime to buy 33 vehicles and 27 houses.
Similarly, the three directors of COMSAVE Credit Union identified as Muleka Given, male aged 29, Onester Sondashi, female aged 33 and Collins Chilufya, male aged 42 conducted and provided financial services without a license by receiving deposits from the general public and issuing loans.
They also advertised to the public for people to save with COMSAVE Credit Union for a predetermined return under the guise that people were joining a village banking group when in fact not.
Through this misrepresentation, they obtained K46, 823, 545.04 from members of the general public. The trio did engage in money laundering activities by using proceeds of crime to acquire property namely: two Mercedes Benz, D2 Buses, one Toyota Runx, one COMSAVE School in Mazabuka and another in Monze.
The seven who are currently on police bond have been charged for money laundering, conducting and providing financial services without a license, conducting a money circulation scheme, obtaining money by false pretenses and being in possession of property reasonably suspected to be proceeds of crime.
The suspects are expected to appear in court soon.