Tag Archives: The Ventriglias

Billions of Money Looted in One of the Biggest Money Laundering Schemes in Zambia

June 13, 2018 by DRMZambia
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Industrialists, as well as economies, are extremely worried about the economic and social development of the nation, especially after the recent news of mass money laundering scheme undergoing in Zambia. Financial Intelligence Agency is the agency which investigated and brought the news. FIC is an intelligence agency expertise in financial fraud detection. Unauthorised cash transactions and illegal money laundering schemes were discovered by the agency, accounting for more than USD 1.5 billion worth of money. The investigation was started by FIC after observing numerous unaccounted Continue reading →

Zambian Government Needs to Show its Strength After the Money Laundering Heist

June 11, 2018 by DRMZambia
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The recent news of money laundering has certainly created a stir across the nation. The news was released by Financial Intelligence Centre, an intelligence agency looking into financial crimes. After months of investigation, the FIC released a list of names of individuals who have been accused of laundering money. Along with this, the FIC also released a report on mass money laundering activities going on within the nation. According to the report, this money laundering act has galloped more than USD 1.5 billion dollars of Continue reading →

Lawyers and Legal Counsellors Named in Money Laundering List, Sakwiba Sikota Involved

May 25, 2018 by DRMZambia
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The FIC recently revealed shocking news of money laundering and involvement of top lawyers, legal counsellors, government officials as well as some of the ministers of the Zambian government in this money laundering list. This is one of the biggest money laundering busts by the FIC, considering the amount of money as well as the number of individuals involved in this bust. John Kasanga is the present acting Director of the FIC, and shared some interesting news along with the scheme. More than USD 1 Continue reading →

Portland Cement Zambia Results to be Announced Soon, New Judge Confirms

May 14, 2018 by DRMZambia
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The new judge overseeing the case of Portland Cement Zambia at the Lusaka High Court recently made a new announcement, which was extremely positive for Dr. Rajan Mahtani and negative for the Ventriglias. As per the news, the case hearing has been closed and both parties have been asked to submit their evidences and testimonials in written and oral format. While Dr. Rajan Mahtani and his lawyers have numerous strong evidences to support their arguments, the same cannot be said for the Ventriglias. The case Continue reading →

Sakwiba Sikota and Many Top Lawyers Accused of Laundering Money in Zambia

May 4, 2018 by DRMZambia
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Financial Intelligence Centre recently revealed a big money laundering scheme involving top legal counsellors and lawyers across Zambia. As per the reports, money worth more than USD 1.5 billion is expected to be involved in this money laundering activity. On top of that, politicians and government officials have also been linked in this money laundering act. It is considered as one of the biggest money laundering act revealed in recent decade. The FIC sources revealed that they had been investigating this money laundering for the Continue reading →

FIC Reports Millions of Loot in Biggest Money Laundering Heist in Zambia

April 13, 2018 by DRMZambia
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Financial Intelligence Agency recently reported money laundering heist in Zambia involving top lawyers and legal counselors. More than USD 1.5 billion worth of money has been caught in this heist and the FIC expects the amount to go up with further investigation. Some of the top names involved in the list were of Masozi M. Banda and Sakwiba Sikota. Both have been accused of laundering money in millions. When confronted, Banda defended himself by saying that he was working for Zambian President Edgar Lungu. It Continue reading →