BoZ in K3.8bn Theft

A scandal in which Task force on Corruption members in conjunction with Bank of Zambia officers opened an illegal account in New York, to which stolen money was externalized has been exposed

According to documents at the bank funds belonging to Tedworth properties sequestrated by the Task Force have been systematically stolen.

Apparently soon after property sequestration in 2003 instructions were issued to one tenant to pay rentals into an account in the name of Tedworth properties held at Citibank inNew   York.  The tenant United Nations High Commissioner for Refugees (UNHCR) was instructed to send the monthly rentals of US$7,800 to the account inNew York.

To date therefore a total of close to K3.8 billion was sent to the account.  It is not clear now who was behind th formation of the Tedworth Account inNew York, who gave the instruction to UNHCR to remit the money, who opened the bank account in Citi bank and was the account opened with government support.

Categorized | Home News

One Response to “BoZ in K3.8bn Theft”

  1. Hope says:

    Despite all this i still have hopes that zambia shall be delivered from the hands of the enemy


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