KONKOLA Copper Mines (KCM) Provisional Liquidator Milingo Lungu yesterday denied charges of theft and money laundering involving K17,250,000.
Lungu who is charged with six counts of theft and money laundering pleaded not guilty before Lusaka magistrate, Jennipher Bwalya after the charges were read out to him.
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 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.
After he took plea, Monday, the State called its first witness, Saniyo Gumbo, a bank manager at Zanaco Acacia branch, who told the court that in November 2021, Drug Enforcement Commission officers visited his office, requesting for information on Lungu Simwanza and Company’s bank account opened with Zanaco.
He said he proceeded to provide the officers with the information they needed.
Gumbo said he pulled a mandate file of the company where he found documents relating to the application for the opening of the bank account, copies of company registration and other details.
He told the court that he discovered, in the same file, that the company held two bank accounts, one in kwacha and the other in dollars.
Gumbo said a K600 million deposit was made to the account as well as other amounts during the period the account was opened and the time the officers visited the bank.
Trial continues on April 20, 2022.