KONKOLA Copper Mines (KCM) Provisional Liquidator Milingo Lungu yesterday appeared in the Lusaka Magistrates’ Court on six new charges of theft and money laundering involving K17,250,000.
Lungu, who is also facing another theft and money laundering case involving K4.4 million, was arrested by the Drug Enforcement Commission (DEC) for the second time in December last year for alleged theft of K17,250,000.
Lungu is now charged with five counts of theft and one count of money laundering but will take plea in the new matter on March 7, 2022.
In the first count, it is alleged that Lungu on July 26, 2021, in Lusaka, being the provisional liquidator for KCM, stole K5 million, property of the said KCM PLC.
In the second count, it is alleged that Lungu on July 27, 2021, stole K5 million, the property of KCM, while in the third count, he is also alleged to have stolen another K5 million on July 30, 2021.
In the fourth count, it is alleged that Lungu sole K2 million on August 6, 2021, the property of the said KCM.
In the fifth count, it is alleged that Lungu on August 10, 2021 in Lusaka, being the provisional liquidator for KCM stole K250,000, property of KCM.
In the last count, Lungu is alleged to have between July 25 and August 20, 2021 in Lusaka, possessed K17,250,000 cash, knowing the same to be proceeds of crime.
Lungu is being represented by Lusaka lawyers Sakwiba Sikota and Moses Chitambala.
Meanwhile, a banker at ABSA bank has narrated how he was last year visited by DEC officers who also served him with a search warrant from court.
Testifying before Lusaka magistrate Felix Kaoma, Derrick Bwalya, a relationship manager at ABSA, told the court that the officers requested for bank and mandate statements for one of their clients, Mwembazi Financial Services Limited.
He said the documents were printed and made available to the officers as requested.
The matter comes up on March 1, 2022, for continued trial.
This is a matter in which Lungu, 43, is charged with two counts of theft and money laundering.
In count one, it is alleged that Lungu between May 22, 2019 and September 28, 2021, being a provisional liquidator for Konkola Copper Mines, stole K4.4 million, the property of Konkola Copper Mines PlC.
In the second count, it is alleged that during the same period, Lungu transferred K4.4 million, knowing or having reasons to believe the same to be proceeds of crime.