RB ACQUIRED Property Worth $US 700,000 Three Months AFTER Being Elected President

EMBATTLED FORMER republican President has been linked to money laundering and abuse of office in relation to the purchase of plot No. RE/A/29/488A leopards Hill road, Kabulonga.
Sources knowledgeable about the transaction have disclosed that Banda acquired the property about three months after becoming president for about US$700,000 and demolished what was there to build a multi-million dollar complex of 12 villas.
Sources say this was clear corruption and money laundering by the former president.
“This is why these guys were in a hurry to remove the abuse of office clause from the Anti-Corruption Commission (ACC) Act. How was Mr Rupiah Banda going to explain how he got the money to buy the property, demolish and build his multi-million dollar complex, if the abuse of office clause had remained ?,” Wondered the source.
“These transactions that Rupiah Banda got in will embarrass him.”
The embattled leader has been advised by former confidant Lameck Mangani to come out in the open and explain his involement in alleged dubious transactions.
Commenting on Gold scam revelations that Banda’s former press aide Dickson Jere introduced gold buyers to the Drug Enforcement Commission (DEC) and immediate-past commissioner Aaron Zulu, former home affairs minister Mangani said all the people who were involved in the gold sale should come out and tell the truth to the nation.
He said there was no way DEC could be a transaction centre of gold.
‘Now that State House was fully involved, the former president must come out in the pen. What does this mean because now Dickson is being linked, heavily, to this? Was Dickson acting alone or he was being sent?,’ said Mangani, a one-time Banda confidant but now a member of the ruling Patriotic Front (PF).

Posted by Editor on November 8, 2011. Filed under HEADLINES, LATEST NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

80 Responses to RB ACQUIRED Property Worth $US 700,000 Three Months AFTER Being Elected President

wa falazia

November 8, 2011 at 3:31 pm

RB PERFORMED WELL, THE ALLEGATIONS NEED TO BE FULLY INVESTIGATED BEFORE THEY AIRED.ZAMMBIANS SHOULD LEARN TO RESPECT LEARDERS.ALL OF US HAVE STOLEN B4 ANYWAY
Zedian

November 8, 2011 at 3:37 pm

From the comments it seems anything bad said about RB is believed even without analysing it. This story has no details for anyone to believe it. Did he pay cash or was it a credit purchase via loan. Do we know anything about RB’s financial standing at the time he was becoming president? No wonder even in our neighbourhoods we are quick to label successful people satanists without knowing their financial dealings.
Kajikhomele

November 8, 2011 at 3:58 pm

What kind of a country are we? Under our law, a person is presumed innocent unless and until proved guilty by a competent court of law. I am getting iritated by asll these allegations being levelled aainst RB when the man cannot defend himself. Personally, I have lost respect for Mangani. He seems to be a bitter man that he lost his parliamentary seat to the MMD. If RB is guilty of corruption as alleged, let the law enforcemenmt agencies investigate and take him to court. Stop this nonsense of making wild allegations against people who cannot defend themselves.
Haamachende

November 8, 2011 at 4:08 pm

This is half baked information and very little information has been given out for debating. But still RB and Thandiwe did not have such financial power to acquire so much resources so anyone can ask questions on how and where they got the money from to acquire so much property in such a shortest possible time. I’m not saying he is guilty but doubting if they acquired all that wealth genuinely. We understand they were poverty stricken before he became VIP and Molongoti can can help with such info. It is not wrong to question how these so called leaders acquire such wealth when we trust them with the resources of the nation. I hope the truth comes out soon!
Anani Koffi

November 8, 2011 at 4:11 pm

Uuubomba mwibala ……. mwibala
jinx

November 8, 2011 at 4:18 pm

People let us learn to proof read before posting,some of you your english is so pathetic.
Mark

November 8, 2011 at 4:35 pm

He is a THIEF period……………..!!!!!
Mark

November 8, 2011 at 4:58 pm

Now I agree with you RB. YES U WILL BE ARRESTED…so u knew what you u were talking about. The USD700,000 was to purchase the land. He has put up 16 Villas!! if say each villa costs K1 billion to build, we talking K16 billion plus K3.3b for purchase of property we are talking of a total of K19.3 billion!!
msana wanzili

November 8, 2011 at 5:04 pm

No rocket science needed on this just common sense. He stole when the clause was still in place so should hanged by it.
Ubuchenjeshi Bwankoko

November 8, 2011 at 5:25 pm

The man may never have been an angel. But just throwing allegations all over is not the right thing to do. Let the security wings investigate and, if there is a tangible case, let the man be taken to court. Otherwise what we are reading are just innuendoes and maligning the old man.
wize1

November 8, 2011 at 5:41 pm

Sadly even though he removed the clause from the acc act it is still in the code.. RB’s complex does exist its called “Mpundu Trust” or something like that will huge upstaired villas that came up in such a short period of time… presidential take home salary isn’t high enough to build such villas in such a short time. truly doesn’t take a rocket scientist to know that RB stole when he was in power.have you seen his wife’s hotel please? a teacher? At a basic school even where can she get such money to buy a multi million dollar hotel in Tanzania?
Lala Vasquez

November 8, 2011 at 5:54 pm

i have on this day decided to join PF
Former Altarboy

November 8, 2011 at 6:03 pm

Why is it taking so long to scrap off Rupiahs immunity? Why should we keep on speculating on certain issues when Rupiah is there to tell us the truth in court?
THE SAINT

November 8, 2011 at 6:22 pm

When RB filed his nomination for President he declared his assets as follows:
K5.8 billion – this is just over $1.6 million. Of this, he had K2 billion in cash – $500,000.
So why is it not possible that he could have acquired this $700,000 property? Any bank in the world could lend a person of such means this little sum of money that Zambians are calling ‘money laundering’ and ‘corruption.’ If I borrowed $700,000 to build 12 villas which will fetch $5,000 rentals per month, that will be paid back in just one year! So stop making this amount of money look like it is too much you poverty stricken twits who have never seen money. Here I am in the UK and my property is already worth $700,000! At the rate Zambians are going, we will go back to UNIP SITET days when everyone who had thrift was arrested and accused of corruption, unless he was a financier of UNIP. Atase! Ma jealous muleke.
msana wanzili

November 8, 2011 at 6:33 pm

Ba SAINT dont be a jerk, if thats the case it won’t be difficult for him to state where he borrowed the money and how much. Btw why did he have to wait until he was President to reinvest his k5 billion. You cant fool some of us. Remove his immunity without delay.
harry

November 8, 2011 at 6:53 pm

$700,000 is small money with the right financial advisors and business plan any well meaning bank can finance that kind of investment.Do you honestly believe that a president can leave office as a pauper?
uncle d

November 8, 2011 at 6:54 pm

@Jamule u ar vry behind, that isue was talkd abt early last month.its no longa latest.
nono

November 8, 2011 at 7:46 pm

Kwena chi RB u are a shameless thief enrichin yoself at the expense of poor Zambianz.. U shud be arrested stripped naked nd burnt to ashes with dirty smelly Thandiwe..
AKRRAL

November 8, 2011 at 8:07 pm

Do no accuse RB,First let the investgating wings do their job.what if RB got loan to build that complex,we should not fond of hanging people through kachepa,by the way,what is the salary of the vp and President?Tumfweko,go kuchalala/new kasama,cival servants have built mashons and complex=====so we must talk about them
Kay Hummer

November 8, 2011 at 9:38 pm

This chap is a CRIMINAL and should be treated as such!!!
Muzo

November 8, 2011 at 10:09 pm

You characters, RB was bankrupt when they recalled him to be Vice President. That us why he went to tranquil in that so called farm of his. Ask his farm neighbours, his field were footpaths that is how he meant Tandiwa when she happened to trespass through his farm as short cut to her Basic school. How you think they meant?
Uko

November 9, 2011 at 5:22 am

Ba fintu who complain about Tumfweko’s English please go start your own blogs. We are interested in the stories and not the language. Have you ever critised umusungu for not knowing Bemba?
Ble

November 9, 2011 at 7:49 am

I think you AKRAl you do not see.
Ba RB was poor. We know him from Chipata. We talked with him.We walked with him. All this was in chipata.
All those pipo supporting RB,may at one time they ate with him,or are still eating with him-who knows!!
So what am saying is that, RB has made alot wrong things to the Zambian pipo.That is the fact!. One thing you should know is that ba Mudala likes money very much. This love of money has made him like that. how i wish i can now tell him,and say Sir!! You need to love God more than you love money.
Zambians should know any one who gets in state House with the love of money,is building himself a bad name, and will be called a theif one day.
All am saying is that BA RB store,ba Naba.And such let the law take way.
RB Bwesheni

November 9, 2011 at 8:59 am

Cant wait to hear the whole truth about this matter. And only the truth will vindict RB.
RB Bwesheni

November 9, 2011 at 9:01 am

Cant wait to hear the whole truth about this matter. And only the truth will vindicate RB.
P435

November 9, 2011 at 10:40 am

Its crazy in Zambia a former President can not afford to buy anything but they get paid and they had other businesses before they were in power??????? They should check everything his payslips , allowances,gratuity everything and prove he did steal because is just became a ****** trend the Lexus story died a silent death.
wa falazia

November 9, 2011 at 12:36 pm

lets have the truth of this matter soonest.RB is available i believe he can give us his views.as for i accept the tendency of Zambians of punishing former presidents.its only late levy (MHSRP)that survived.otherwise all will pass through this drama ..mangani is just disgruntled ….
big t

November 9, 2011 at 12:38 pm

who said sata would never rule this country?ni banda……wafwa sata aisa….ba george kunda ati shani apo?
Africque

November 9, 2011 at 3:42 pm

Therez iz no presidnt dat can acquire a loan frm a bank wen he az ful acces 2 national resources n lookin@ hw rb ruled,its imposibo.so if diz story iz tru den rb iz in trabo
chansa

November 11, 2011 at 3:42 pm

Yaliba ko tricky imibile yaba fikala aba…