Multi-Million Kwacha Properties Seized in Money Laundering Case
In a major victory against financial crime, Zambian authorities have seized properties valued at over K9.3 million from Ms. Chiyeso Lungu.
The Drug Enforcement Commission (DEC) and the Office of the Director of Public Prosecutions (DPP) collaborated on the investigation, which culminated in a court order yesterday forfeiting the assets.
The seized properties include a luxurious residence, four chicken runs, and three apartments in Lusaka’s prestigious State Lodge area.
Ms. Lungu is alleged to have acquired these properties through illicit means between 2013 and 2021.
According to a statement released by the DEC and DPP, the case relied heavily on bank statements showing a sudden surge in Ms. Lungu’s account activity in mid-2018, prior to which there were minimal transactions.
This, along with other evidence, reportedly convinced the court to award a non-conviction-based forfeiture of the assets deemed to be “tainted.”
Nason Banda, Director General of the DEC, and Gilbert Phiri, Director of Public Prosecutions, commended law enforcement officials for their hard work in securing this outcome.
They emphasized the case’s significance in dismantling criminal networks and upholding the rule of law.
Both the DEC and DPP reiterated their commitment to fighting financial crimes and ensuring that criminals do not benefit from their illegal activities.
The public is encouraged to report any suspicious financial activity to help authorities combat corruption and illicit practices.
