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Mahtani Nabbed, Liato Jailed
POLICE in Lusaka have arrested prominent Lusaka businessman Rajan Mahtani for alleged forgery involving transfer of 500,000,000 shares from Zambezi Portland Cement (ZPC) into Finsbury Investment Limited.
And the Supreme Court has upheld the two-year jail sentence with hard labour imposed on former minister of Labour and Social Security Austin Liato by the Lusaka Magistrate’s Court for possession of K2.1 million reasonably suspected to be proceeds of crime.
Police spokesperson Charity Munganga-Chanda said in a statement in Lusaka yesterday that Dr Mahtani, who has also resigned as Finance Bank board chairperson, has been arrested for two counts of forgery, contrary to Section 344 (9) of the Penal Code Chapter 87 of the Laws of Zambia.
In both counts, Dr Mahtani is alleged to have jointly and whilst acting with other persons unknown, forged a transfer of 500,000,000 shares from ZPC into Finsbury Investment Limited purporting that the forms were duly signed by the directors of ZPC when in fact not.
“The offences are alleged to have been committed on December 12, 2006,” she said
She said Dr Mahtani has been released on bond and will appear in court soon.
Meanwhile, Dr Mahtani has immediately stepped down as chairman of the board of directors of Finance Bank Zambia Plc, reports CHISHALA MUSONDA.
This is according to a statement issued yesterday by Finance Bank Zambia Plc
“In view of this unfortunate development, Dr Mahtani has graciously stepped down with immediate effect as chairman of the board of directors of Finance Bank Zambia Plc, and Mr William Boli Nyirenda, SC, a present member of the board, has been appointed to act in his stead,” the statement from the bank reads.
“Dr Mahtani has this morning (yesterday) been charged on an alleged offence on which the State had previously issued a nolle prosequi dated April 30, 2012 and the office of the Attorney General had given a written undertaking that the matter was permanently closed,” the statement reads.
And Supreme Court judge Mumba Malila yesterday sentenced Mr Liato to 24 months imprisonment with hard labour for possession of property reasonably suspected to be proceeds of crime.
The sentence will run with effect from yesterday.
Mr Justice Malila, sitting in Ndola yesterday, further ordered that Liato’s farm number number L/Mpamba/44 in Mwembeshi, and the K2.1 million which was in his possession be forfeited to the State.
Liato was on July 23, 2013 convicted and sentenced to 24 months imprisonment with hard labour by the Lusaka Magistrate’s Court, which also ordered that his farm and the money, which he had buried on the property, be forfeited to the State but the sentence was later quashed by the Lusaka High Court.
The State appealed to the Supreme Court on grounds that the High Court erred in law when it held that to prove reasonable suspicion under section 71, the prosecution had to show a link between the source of the money or the accused to possible criminal conduct among other grounds of appeal.
Mr Justice Malila, in his judgment, states that: “The money was buried underground in a chalet at the convict’s farm and the top was sealed with concrete. This raises a lot of questions on whether the money was gotten legitimately.
“This court holds the view, therefore, that the money was ill-gotten as no one would conceal money the way the convict did even if one had lost faith in the banking system in the country.”
Mr Justice Malila added: “I therefore set aside the judgment of the High Court and uphold the conviction on accused by the lower court. I direct that the convict serves the 24 months imprisonment with hard labour with effect from today. I further order that the property be forfeited to the State,” Mr Justice Malila said.
Liato’s wife wept uncontrollably after the judgment was passed in a fully packed courtroom.
Liato was charged with possession of property suspected to be proceeds of crime contrary to section 71(1) Act number 19 of 2011 of the laws of Zambia.
On November 24, 2011 in Lusaka, Liato had in his possession K2.1 million, which was reasonably suspected to be proceeds of crime.
Posted by
lol
June 3, 2015 at 10:30 am
justice at work
IF NOT
June 3, 2015 at 10:32 am
Liato imprisoned until 2nd June 2017, and the farm forfeited…………………. i feel for his family.
Jflipsyd
June 3, 2015 at 11:22 am
So what ever Mr Sata was fighting for is being retracted, I wonder what will happen to all those companies he got back from these foreign investors. Ba Lungu twapapata RB akamiletelela!!!!
jsm
June 3, 2015 at 11:26 am
This sentence will act as deterrent for would be money launders in the future. How did the high court fail to see what the supreme court has seen? Bravo Judge!
kondwani sichinga
June 3, 2015 at 11:57 am
Kwashala ba bululu bakwa pilato”ba lungu”!
chief Puta
June 3, 2015 at 12:17 pm
Gud judgment let the bagger serve hs sentence.
Trixy
June 3, 2015 at 12:19 pm
I honestly feel for Dr Mahtani. I worked for Finance Bank for many years and it pains to see this happening to him. Sata came in and put a stop to Dr Mahtani’s misery caused by RB. Lungu comes back and does the complete opposite (and ofcourse under the influence of RB). I hope the bank will not be sold to FNB. That will be very sad coz Finance Bank is as good as a Government institution. A lot of security, etc. If FNB takes over; as RB planned during his reign, then Shoprite, Spar, Pick and Pay, etc will be banking with this bank and money goes back to SA. I am not happy mwandi. For sure Lungu must be careful. This alliance with RB is not good at all….not good at all.
PF Continues
June 3, 2015 at 6:17 pm
Or even a prostitute that was being paid for being layed!
Bebeni Bonfwe
June 4, 2015 at 9:26 pm
@Trixy
So what if you worked for Finance Bank? Is that the reason you think it’s Mathani shouldn’t be jailed? If that’s the case then you are a blind fool and wish your thinking has not filtrated to those who surround you!
The man engaged in mal-practices for a so-called business man of high ranking! He has stolen and shouls simply pay for his actions! If you want you can volunteer to be his cell mate since you have so much compassion for the bandit!
LUNGISAN
June 3, 2015 at 1:02 pm
let the truth be told I think chi-NEZ is correct am behind you mwana,if we removed mmd to bring pf and now that mmd is back through the back do lets remove them all.
Hello Haters
June 3, 2015 at 1:09 pm
LUNGISAN wamene olo kuli impostor?
tutu
June 3, 2015 at 2:22 pm
m happy wit liato sentence,but hw I wish he had gotten more yrs..f t oz jst a regular Zambian stealing a few kwachas he wud have gone in 4 @list 5yrs,ala pa zed paba ututoloto…
Miyanda Hamakuba
June 5, 2015 at 4:07 pm
It was too small. Ten years could have made a bit of sense, otherwise he strongly asked for more than twenty or thirty years. Liato was not starving, so why steal? The idiot had a comfortable job, and the Supreme Court has given him a favour by not increasing the period. Did he give a bit of what he stole to the judges?
major chileshe
June 3, 2015 at 2:41 pm
Miss ba sata very much
kakolwe
June 3, 2015 at 3:33 pm
Yabaa! Liato & Mathani!! Am seeing the Liato judgment as a smokescreen! How do I reconcile the 2012 Nolle and this? I am very confident with corporate law, but apapena I am beaten clean. Besides, my day was spoiled as I was forced to trudge besides ba RB with the president on commissioning the park. JJB, muntu wandi, help me!
Beautiful Moma
June 3, 2015 at 4:27 pm
I thought Liato had been given a slap on the wrist and that was it. What has changed now?
Puungwa
June 3, 2015 at 6:47 pm
Liato was being welcomed to pf few days ago,Malila one of the bantu botatwe says liato must instead join chimbwakaila.lol
LUNGISAN
June 3, 2015 at 7:04 pm
Stop using my name whoever you are Hello Haters you have obseved the truth there are some demonic inposters who tring to force me into suppoting them leave me alone L know where I belong.
kantini
June 3, 2015 at 8:29 pm
Lungu u nid 2 be careful thts a friendly advice or else u c wen I win in 2016
syms
June 3, 2015 at 11:52 pm
the battles this people fights are personal.
Kwati like so
June 3, 2015 at 11:53 pm
Finance bank owner being persecuted. Bweziman fighting in the background. Presido of ours being controlled! Hahahahahaha
Big z
June 4, 2015 at 12:11 pm
Let mahtani pay for his sins it’s time the bargar
he is selfish.
mwansa
June 4, 2015 at 12:59 pm
what is right is the same everywhere
jona
June 4, 2015 at 1:04 pm
the bible says “time & the lord is known by his justice”
MULA
June 4, 2015 at 1:48 pm
Mahtani’s Case Is Old Bane, This Case Only Comes Strong When RB Places His Finger On Rajan. I Wonder Why. Liato Should Have Been Given Atleast 10years.
Miyanda Hamakuba
June 5, 2015 at 4:03 pm
Please pipo, let us learn to dig deeper. Why do you think there are two testaments in the Holy Bible to guide you and I against Satan? Mathani asked for it, after he got back his Bank, he turned his back on Ba Lungu and started pumping huge sums in the Post, the Cartel and HH, AGAINST Ba Lungu. If you were in President Lungu’s shoes, what will you do against someone hell-bent on kicking you out of office, and yet you have the power to stop the NONSENCE?
Bebeni Bonfwe
June 4, 2015 at 9:35 pm
Elo lwanya!!
Ba Mrs. Liato even displaying a fiasco in the courtroom! Iyeh, elo mwa le shi lya mwa tontonkanyapo pali ifya mailo? Your husband is a theif. Am sure you were standing by the side when he was busy commanding and directing those bricklayers to apply the cement/concrete mixture. Did you think about today?Too bad for you. I hope you learn a serious lesson from this. That farm property is now state property. A clear indication of abuse of tax payer’s money which we so worked hard for and were even insulted for in the name of keeping our jobs. so who are you to think you can just dip your hands in it and eat as you please? Even crying in court, i hope they got the security officers to kick you out of the courtroom for being a nuisance! Go and start peasant farming kumushi. Your only hope for redemption!
one Zambia
June 5, 2015 at 11:26 am
I miss the man of action. If only Guy Scot was Zambian we wouldn’t be passing thru this. Ba Lungu tefintu
poly
June 5, 2015 at 2:40 pm
Guy Scott exercised a lot of wisdom to fire Edgar as PF Secretary General after the death of MCS.
Miyanda Hamakuba
June 5, 2015 at 3:58 pm
The people judged against Guy Scott’s stance on Ba Edgar by voting for Ba Edgar in January, 2015. Scott never got a chance to act as President because Sata knew him as an incompetent white kaponya!
one Zambia
June 5, 2015 at 6:12 pm
We voted for the party that Sata suffered for many years, I personaly did want pf to go into extinction…. But we all can see the injustices happenin in lungu’s government… that man can’t even mention corruption bcoz that is his middle name… Ba lungu y ar u destroying everything my president sata suffered for? U are a disgrace to our party & the nation.
YADAYA
June 5, 2015 at 9:05 pm
NEZ YOU WERE RIGHT MAN,THIS EL GUY IS PATHETIC