DEC Nabs Businessman For Stealing K4 Million From Bank

DEC Nabs Businessman  For Stealing K4 Million From Bank

A 44-year-old Lusaka businessman has been arrested for alleged forgery, obtaining credit by false pretences and money laundering activities.
Drug Enforcement Commission (DEC) public relations officer Theresa Katongo, in a statement yesterday, named the businessman as Christopher Banda.

“He falsely impersonated the role of director and forged a report and valuation documents for property situated on stand number 718 in Kabulonga Extension, Lusaka,” Ms Katongo said. She said Mr Banda inflated property valued at K1.4 million to K11.4 million and forged the signature for the director at a named valuation company purporting that the said director signed on the valuation report, when in fact not.

Ms Katongo said the said documents were uttered to a named bank loan officer and led to obtaining of a loan of K4 million. “The suspect has been released on police bond and will appear in court soon,” she said.