The Drug Enforcement Commission (DEC) through its Anti-Money Laundering Investigations Unit in Lusaka has arrested and jointly charged two Lusaka Businessmen for money laundering activities involving US$39.5 million.
DEC Public Relations Officer Theresa Katongo says Metternich Chishimba, 49, a Businessman of Chalala area in Lusaka District has been arrested and jointly charged with Anderson Phiri, 42, a Businessman of Ibex Hill for money laundering contrary to the laws of Zambia.
Ms Katongo explains that particulars of the offence are that Mr. Chishimba, on dates unknown but between 7th October, 2015 and 31st December, 2017 jointly and whilst acting together with Anderson Phiri and other persons unknown with intent to defraud did forge contract documents.
Ms Katongo further explains that they purported that the Road Development Agency and the National Road Fund Agency had signed a contract with Drum and Bitumen Isfahan of Iran for the supply of 100,000 metric tonnes of bitumen with a total contract value of US$39,550,000 when in fact not.
She says the duo obtained a total sum of US$480,000 as advance payment guarantee from Drum and Bitumen into their company account which funds were used to acquire various properties for sale for their personal benefit.
The DEC Spokesperson says the Commission has since seized properties from the duo for further investigations.
She adds that the suspects are on Police bond and will appear in court soon.

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