Kambwili retracts allegations against KCM liquidator

NDC leader Chishimba Kambwili has retracted his allegations against Konkola Copper Mines (KCM) Provisional Liquidator Milingo Lungu of transferring over K100 million from the company’s bank account to his law firm’s account.

Speaking with Diamond TV recently, Kambwili said it had been brought to his attention that the purported funds were indeed paid to Lungu’s Law Firm but from another source, not KCM.

He said he could not disclose the company involved in the transaction for the purpose of lawyer, client privileges.

“It has come to our attention that there was no payment made to KCM into Milingo’s Law firm’s account. The purported funds said to have been withdrawn amounting to about K110 million that was referred to, was indeed paid to the Law Firm however, from another source and not KCM. For the purpose of lawyer client privileges, I cannot disclose the company involved in the transaction. But suffice to clarify that our findings proved that a misrepresentation was made in the story earlier,” Kambwili said.

In an interview with Diamond TV, Kambwili had accused Lungu of transferring K100 million from the company’s bank account and depositing it into his law firm’s account.

He charged that after withdrawing K100 million, Lungu later transferred back K35 million into the KCM account, leaving a balance of K65 million.

“I want to appeal to the liquidator of Konkola Copper Mines to explain why he transferred K100 million from KCM account to his law firm’s account and then after some months, he went and deposited back K35 million, leaving the balance of K65 million not refunded into the KCM account. I am reliably informed that Mr Milingo got this money from a payment of K400 million that was made to KCM. KCM received a deposit of K400 million in one of the accounts and then Mr Milingo withdrew K100 million which he deposited in his law firm account. And this law firm account is a fixed deposit account which means that after it earned interest, he came and paid back K35 million and K65 million is still outstanding to be paid,” Kambwili charged.

He challenged Lungu to deny the allegations and further urged the law enforcement agencies to take interest in the matter.

But Lungu vehemently denied the allegation, calling Kambwili a pathological liar who thrived on misinformation.

He said in an interview with the same TV station, that the allegation by Kambwili was libel and threatened to sue both the broadcaster and the opposition leader.

“That’s absolute and pure libel. I have never withdrawn any money from a KCM account and deposited in my account. And those things are very easy to prove. So, if that story is going to be published, I am going to sue whoever your sources are and you as well because that’s pure libel. It’s false information. It’s an issue that we are going to take to court,” said Lungu.

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