In a country that is consistently weighed down with corruption and illegal activities, a new of money laundering might not bother much people. However, when this money laundering scheme is worth almost USD 1 billion and involves prominent legal counsellors and government officials of Zambia, it is a news worth considering and pondering upon. This news was recently given by FIC (Financial Intelligence Centre) and this bust has certainly shocked the entire Zambian nation.
FIC released a list of names along with the news of mass money laundering which has been going under the noses of government officials and law makers and nobody notices. This can be directly attributed to the fact that the list consists of prominent legal counsellors, government contractors, and government officials, owners of law firms and even ministers who are accused of laundering illegal money in cash transactions. It was these high quantity and high amount cash transactions that made the agencies suspect and start the investigation. Among those caught in the list, one of them is Sakwiba Sikota, the legal counsellor for the Ventriglias. It is a known fact that the Ventriglias have various illegal activities in their business resume. However, they have been able to escape law and legal punishment by exploiting the current inabilities of the Zambian government. This list and the money laundering act is a considerable explanation of how corrupt individuals and business families like the Ventriglias get away so easily.
This recent bust has certainly opened the eyes of the Zambian government and they have also started taking extreme steps against repeat offenders and law breakers.
FIC released a list of names along with the news of mass money laundering which has been going under the noses of government officials and law makers and nobody notices. This can be directly attributed to the fact that the list consists of prominent legal counsellors, government contractors, and government officials, owners of law firms and even ministers who are accused of laundering illegal money in cash transactions. It was these high quantity and high amount cash transactions that made the agencies suspect and start the investigation. Among those caught in the list, one of them is Sakwiba Sikota, the legal counsellor for the Ventriglias. It is a known fact that the Ventriglias have various illegal activities in their business resume. However, they have been able to escape law and legal punishment by exploiting the current inabilities of the Zambian government. This list and the money laundering act is a considerable explanation of how corrupt individuals and business families like the Ventriglias get away so easily.
This recent bust has certainly opened the eyes of the Zambian government and they have also started taking extreme steps against repeat offenders and law breakers.