• Anti-Money Laundering Investigations Unit has arrested a Nigerian national for fraud and possession of property suspected of being proceeds of crime.
• He gave false information to a public officer at PACRA when registering a company
• The company was however registered in Zambia for the sole purpose of opening three bank accounts at a known commercial bank.
Drug Enforcement Commission (DEC) has frozen three bank accounts belonging to a Nigerian national with balances of over US$2, 084, 972, 100 Euros and 11, 061 Pounds, suspected of being proceeds of crime.
DEC Public Relations Officer Hussein Khan revealed in a statement that the Commission’s Anti-Money Laundering Investigations Unit has since formally charged and arrested Adeyinka Adesola Olaoluwa 39, for fraud, giving false information and possession of property suspected of being proceeds of crime.
Mr. Khan explained particulars of the matter are that between 1st January 2020 and 30th June 2022 at Lusaka, Olaoluwa jointly and whilst acting together with other persons unknown, with intent to defraud, gave false information to a public officer at the Patents and Companies Registration Agency (PACRA) when registering a company named WH Energy and Allied Services Limited whose nature of business was said to be management consultancy and support services.
He added that the company was however registered in Zambia for the sole purpose of opening three bank accounts at a known commercial bank which were used to fraudulently receive and transfer money worldwide.”
“The Commission has formally charged and arrested Adeyinka Adesola Olaoluwa a businessman aged 39 for Giving False Information to a Public Officer contrary to section 125(a) of the Penal Code Chapter 87 of the Laws of Zambia and Possession of Property Suspected of Being Proceeds of Crime contrary to section 71 of the Forfeiture of Proceeds of Crime Act No. 19 of 2010 of the Laws of Zambia.”
“The accounts have since been frozen with balances of USD2, 084, 972, 100 Euros and GBP 11, 061,” Mr. Khan stated.
He said the suspect is on bond and will appear in court soon.