In the recent bust by Financial Intelligence, top lawyers have been accused of laundering money worth more than USD 1.5 billion. The FIC sources have also indicated that this amount is not total, and further investigation might reveal bigger amounts in this scheme. It is one of the biggest money laundering schemes in Zambia including high profile corporate and individuals.
Top firms such as Central Chambers, Shamwana and Company, Makebi Zulu Associates and Avic International has been named in the list. Most of these companies have corporate accounts as well as personal bank accounts of the lawyers which were investigated and found to be linked with the cash transactions. The FIC reported almost 35,000 illegal cash transactions, especially during unethical events such as Nigerian Oil deal trail, illegal elections and presidential petition. It is not difficult to connect the money laundering with these illegal activities.
Central Chambers is owned by Sakibwa Sikota, an infamous lawyer working with the similar infamous family, the Ventriglias. Sikota has been their legal counsellors for many decades, helping them escape law even after engaging in unethical practices. An example of this is the illegal takeover of the Portland Cement Zambia, a cement factory whose legal owner is popular businessman Dr. Rajan Mahtani. Even though the factory was taken over almost 10 years back and Dr. Mahtani has been fighting the case even since, no results or judgement has been provided yet. This explains the sorry state of the government and their inability to provide quick justice. It is probably one of the major reasons why this mass money laundering racket was unnoticed for such a long time, even after laundering millions worth of money.
It will be no surprise if almost all the names of the individuals, lawyers, legal firms as well as politicians and those representing them accused of money laundering are found guilty. While the money gone is difficult to recover, the government should start taking strict actions, punish those who are found guilty and set examples across the nation to ensure that these illegal activities are at least minimised to certain extent.