The news of mass money laundering and involvement of top lawyers and legal counsellors from Zambia has certainly made shocking news. The report was published by Financial Intelligence Centre, which also investigated the case. As per the report published by FIC, more than USD 1.5 worth of monetary transactions has been involved in this money laundering.
As per the reports, top lawyers including Masozi M. Banda from Avic International and Sakwiba Sikota from Central Chambers have been named in this list. It has been reported that those in the top of the list presented by FIC have been accused of involving in illegal laundering worth more than USD 1 billion. This is a huge amount and therefore, the investigation agency is in its full form to evaluate the level of corrupt and the involvement. Furthermore, Sakwiba Sikota is also infamous for his long-term association with the Ventriglias family. The Ventriglias have been involved in various unethical practices and with the help of their lawyer, getting away with the law. A prime example is their illegal takeover of the Portland Cement Zambia, whose actual and legal owner is Dr. Rajan Mahtani. Even after submitting various evidences against the Ventriglias, the case has not been finalised and is continuing for almost 10 years. On the other hand, the Portland Cement Zambia is still under their seizure. As such, finding the name of Sakwiba Sikota in the list of money launderers is very much predictable.
Financial Intelligence has confirmed that this is not the final list as the investigation is going on. They will be sharing new details regarding their investigation soon.
As per the reports, top lawyers including Masozi M. Banda from Avic International and Sakwiba Sikota from Central Chambers have been named in this list. It has been reported that those in the top of the list presented by FIC have been accused of involving in illegal laundering worth more than USD 1 billion. This is a huge amount and therefore, the investigation agency is in its full form to evaluate the level of corrupt and the involvement. Furthermore, Sakwiba Sikota is also infamous for his long-term association with the Ventriglias family. The Ventriglias have been involved in various unethical practices and with the help of their lawyer, getting away with the law. A prime example is their illegal takeover of the Portland Cement Zambia, whose actual and legal owner is Dr. Rajan Mahtani. Even after submitting various evidences against the Ventriglias, the case has not been finalised and is continuing for almost 10 years. On the other hand, the Portland Cement Zambia is still under their seizure. As such, finding the name of Sakwiba Sikota in the list of money launderers is very much predictable.
Financial Intelligence has confirmed that this is not the final list as the investigation is going on. They will be sharing new details regarding their investigation soon.