A Chinese National who is a manager and signatory to business accounts for Crowline Trading Limited domiciled at a named bank has been arrested for money laundering involving more than USD$14 million.
Longrong Chen aged 29 is also suspectedly involved in money laundering of money worth more than K3 million.
The money in question is believed to have been transferred to offshore accounts purportedly as a means of ordering goods.
Drug Enforcement Commission Public Relations Officer Hussein Khan said the suspect was arrested through the DEC Anti-Money laundering investigations unit.
"Particulars of the offence are that on dates unknown, but between November 1st, 2022 and September 29th, 2023, the suspect jointly and whilst working with other persons unknown received a sum of USD$ 248,993.00 in the company dollar account through an isolated cyber fraud. Further, in the same period under review, the business accounts for the named company received about USD 14,704,274.44 and ZMW 3,031,775.00 through large deposits and transfers on both accounts, which monies are suspected to be proceeds of crime," he said.
Mr Khan said additionally, the said amounts were transferred to some offshore accounts purporting to show that they were ordering goods when, in fact, they were not.
He said the suspect has since been charged with being in possession of property reasonably suspected to be proceeds of crime and money laundering.
Meanwhile, the commission has arrested Alice Phiri, female, aged 24 and Brian Zulu, male, aged 40, in a special operation conducted in Lusaka’s Chawama township for being in possession of counterfeit notes amounting to more than USD$170, 000.00.
Also in another matter, the commission arrested and charged Amukwe Mubuyaeta, a male aged 41, for obtaining credit by false pretences and money laundering.
"Particulars of the matter are that the suspect jointly and whilst acting together with others unknown on dates unknown ,but between January 1st, 2023 and September 11th, this year fraudulently obtained a loan of K80, 000 from a known microfinance company by purporting that he was a known medical doctor employed under the Ministry of Health at the University Teaching Hospital when in fact not," Mr Khan said.
He added that all suspects are expected to appear in court soon.
"We therefore wish to urge all members of the public to safeguard their identity documents, such as National Registration Cards, owing to the increased levels of fraud in the country. Further, all players in the financial space are encouraged to hasten their due diligence protocols to protect their clients," he said.
Curtesy Mwebantu.
