The Drug Enforcement Commission has arrested a 44 year-old Lusaka businessman for forgery, obtaining credit by false pretenses and money laundering contrary to the laws of Zambia.
DEC Spokesperson Theresa Katongo in a statement to Money FM News says Christopher Banda in 2017 as Director of MNS Global World Limited with intent to defraud a named bank did forge a report and valuation document for a property situated on Stand No. 718 in Kabulonga Extension in Lusaka valued at K1, 400, 000 by inflating the amount to K11, 400, 000.
Ms Katongo says Mr. Banda also forged the signature for the Director at a named valuation company purporting that the said Director signed on the valuation report when in fact not.
The said documents were uttered to a named bank loan officer and obtained a loan of K4, 000, 000.00 by false pretenses.
The suspect has been released on Police bond and will appear in court soon.

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