Mr. Editor sir, send your reporters to Professional Insurance and Finance Bank. The penthouse Mahtani is living in since 1991 and offices he occupies on 5th floor of Finance House have never been paid for.
Free housing and offices to him and Professional Insurance paying salaries for his secretary are clear cases of money laundering. Tax evasion on rent alone runs into millions of Kwacha.
Dig deeper and you will find that Michael Gondwe (Bank of Zambia governor) is in his pockets. He was given 1% on line of credit that PTA Bank gave to Mahtani’s Finance Bank.
Michael Gondwe while working at PTA Bank sanctioned line of credit to Finance Bank which is used for many dubious transactions. Mr. Barkat Ali had issued a letter to PTA Bank that Mahtani had deposited $5,000,000 in Zambezi Portland Bank account.
Based on that margin money letter, PTA Bank under Michael Gondwe sanctioned loan to Zambezi Portland Cement. This has been a fraud from day one.
Mahtani can destroy records at his bank but PTA Bank has all the records and Mr. Sata shall check with PTA Bank and know that our BOZ governor is a crook who along with Mahtani crooked PTA Bank to release loan without any stake of Mahtani which is against banking norms. How can BOZ be headed by a crooked person?
Anonymous
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