Mahtani has opened Pandora’s box, says Changala

The Bank of Zambia (BoZ) has been challenged to explain what role it played in the transaction in which Finance Bank chairman Rajan Mahtani paid Simata Simata K1 billion to allegedly gag him (Simata) because the revelations have opened a Pandora’s Box, civil rights activist Brebner Changala has demanded.

Changala said the letter written to Simata by Mahtani following the evidence he gave in court concerning irregular payment which resulted in a demand for a refund of K1 billion was an exposé of the banking and financial transgressions which the Anti-Corruption Commission (ACC) and the Drug Enforcement Commission (DEC) should develop an interest in.

The civil rights activist said the demand by Dr Mahtani that Simata should pay back the K1 billion had exposed irregular banking deals.

Simata has threatened that he would spill the beans should Mahtani go ahead and implement his threats because he was aware of the many banking irregularities at Finance Bank.

And Changala has demanded that the Bank of Zambia should ascertain why Simata was given the K1 billion at the time he sued his former employer wondering if the money was meant to commit him (Simata) to never divulge the banking irregularities in Finance Bank.

Changala has challenged Mahtani to explain what type of information he had paid for to gag Simata so that he could keep quiet on the alleged wrongs Finance Bank was involved in.

“Is it true that Simata was given K1 billion to hide the debt in Finance Bank and was made to sign an indemnity form committing himself never in his life to divulge, discuss or communicate to anyone the wrongs he saw at Finance Bank? What type of information would cost a bank K1 billion and paid to someone in order to gag a former employee…and what account was debited to pay Simata at Finance Bank because finance deals are in depositors money? Changala wondered.

He said the Bank of Zambia should explain the role it played in the transaction because Simata has clearly indicated that he had cleared himself with the Central Bank when he resigned from Finance Bank.Changala said there was more to the threats Mahtani had issued against Simata than what would meet the eye and that Zambians should be ready to hear the revelations from the former Finance director should the matter come up into court.Changala who is a banker by profession explained Simata should be given the opportunity to be heard.

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One Response to “Mahtani has opened Pandora’s box, says Changala”

  1. Henry Kaposa says:

    Bank of Zambia, ACC and DEC shall investigate and establish truth. There cannot be smoke without fire. Investigate his brother-in-law Gabriel Schultz and sister Mary Schultz. They own (before manipulation done to avoid new capital requirements under the Banking Act) Finance Bank and other group companies. Have they ever paid any tax in Zambia and their countries of residence? ZRA shall engage an independent audit firm to conduct forensic audit of finance bank, leasing finance, professional insurance and other outfits that are owned by foreigners (relative of his used to protect himself from dubious transactions).


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