The Drug Enforcement Commission has arrested Zambia Must Prosper President Kelvin Bwalya Fube for money laundering.
DEC Spokesperson Mathias Kamanga says failure to report a suspicious transaction is contrary to the Financial Intelligence Centre and Money Laundering Acts.
Mr. Kamanga says KBF has been arrested together with Lusaka Businessman and Music Promoter Bwalya Kalandanya, Beauty Chama, Ibrahim Mitha and Hassan Hanif Mitha for being in possession of goods reasonably believed to be proceeds of crime and money laundering.
He says Mr. Kalandanya had changed title of his seven fully furnished apartments in Lusaka’s Jesmondine area worth K6.1 million to Beauty Chama without her knowledge.
Mr. Kamanga added that KBF then sold the flats to Ibrahim Mitha and Hassan Hanif Mitha on behalf of Beauty Chama without her ever knowing that she owned them.
He says the buyers claim they bought the flats through KBF.
Mr. Kamanga says all suspects have since been released on police bond and will appear in court soon.
And KBF confirmed his arrest in a statement last evening.
“Fellow Country Men and Women, This is to confirm that DEC arrested me this morning and later released me on bond today. We will soon issue a comprehensive statement on the matter. I hope they know what they are doing,” he wrote.
