The FIC (Financial Intelligence Centre) is a top agency that investigates illegal financial activities and corrupt practices. A few weeks ago, FIC released a list of names involving prominent lawyers in involved in mass money laundering act. Apart from lawyers, the list also comprised of various law firm owners, government officials, government contractors as well as ministers. It is definitely one of the biggest money laundering acts caught in Zambia.

Suspicions were formed when FIC discovered more than 35,000 illegal cash transactions across corporate and individual bank accounts of the suspected individuals. It was also found that the amount of these transactions reached almost USD 1 billion. As per the reports, it is suspected that majority of these lawyers are laundering money for President Edgar Lungu, also known for starting dictatorship in Zambia. Masozi M. Banda, a lawyer from Avik International, is placed at the top of the list of money launderers with illegal transactions amounting in millions. When confronted, he simply stated that the money was for President Edgar Lungu and was assigned to him for governmental activities such as road construction. However, the cash transactions have been found to be wired to accounts in Dubai and China and as such it is difficult to trace the amount. At the same time, many prominent legal counsellors, law firm owners, government contractors and even ex-ministers have been caught in the act. Many of these government contracts are not even certified and have not paid taxes. Further investigation also revealed that majority of these illegal transactions was used for funding corrupt presidential campaigns and similar activities.

Among the names, Sakibwa Sikota’s name also appeared in the list by FIC. He is the legal counsellor for the Ventriglias and owner of Central Chambers. His name in the list is less surprising due to his known involvements in illegal activities along with the Ventriglias, such as illegally taking over Zambezi Portland Cement whose real owner is Dr. Rajan Mahtani.