Prominent Lusaka lawyer Lewis Mosho has been acquitted by the Lusaka Magistrate Court on charges of theft and money laundering levelled against him by Shoprite Holdings in 2011.
Mr Mosho is a senior partner in Lewis Nathan Advocates, a corporate law firm which worked acted as Corporate Secretary for Shoprite Checkers.
The judgement brings to an end, a protracted, acrimonious and even fractious legal battle spanning over half a decade between Mr Mosho and Shoprite.
This is in a matter where Shoprite South Africa has lodged a complaint that 2,220,897 of its shares worth US$10million where sold on the Lusaka Stock Exchange without the company’s authority or consent from the year 2005- 2011.
In a letter dated 21st December 2011 written and signed by DEC Commissioner Mrs. Alita Mbahwe, to Stockbrokers Zambia Ltd, Lewis Nathan Advocates and The Lusaka Stock Exchange, DEC stated that they were investigating theft of up to K50billion (Unrebased) obtained through the sale of Shoprite shares at the Lusaka Stock Exchange.
Shoprite Zambia had since withheld dividend payments to 20,000 Zambian shareholders and suspended trade on the LuSE until the theft of K50billion worth of shares and its proceeds is established.
The transfer saga of shares dates back to the year 2009 when the DEC ignored Mosho’s letter in which the lawyer was alerting the commission that Shoprite Checkers had instructed him to remit proceeds amounting to about K49 billion to a South African agent T. van Tonder without following procedure.
Lusaka High Court Deputy Director Joshua Banda, sitting as Chief Resident Magistrate in Lusaka delivered the judgement on Friday July 1st 2016 and determined that there was “no merit in the case brought against Mr Mosho”.
The court found Mr Mosho with no case to answer on each of the 43 charges.
And Mr Mosho says he is only, “happy that the truth has set me free and this case is now behind us. I can concentrate on business and family now without court matters.”
He said his aspiration now is to ensure that he does everything in his power to ensure that foreign investors comply with local laws as much as Zambians are expected to do in other countries saying there must be no sacred cows.
Shoprite had argued that from January 2005 to June 2006, Mr Mosho breached his obligation and traded its shares on the Lusaka Stock Exchange without consulting Shoprite Checkers.
The supermarket also wanted the court to order a mandatory injunction directing LuSE to correct its records to reflect Shoprite Checker’s ownership and title to the treasury.
The judgement also means Mosho who claims to have lost millions of dollars during the period his passport and assets were frozen at the request of Shoprite is now at liberty to claim damages, as the law sees fit, and as he sees right.
Another plunderer
I bet he is a PF lawyer, like Tutwa, KBF and Chakolwa. All crooked lawyers seem to belong to PF.
Shoprite like other plunderers that come under the guise of investor wanted to swindle Zambians! Thumbs up Lewis Mosho – sue those parasites for the distress they have caused you and your family.Zambians need to see investors for what they really are.We need to support local businesses and stop the petty jealous.Muzungu worshiping has to stop.
My friend Mosho. Glad you have escaped this one mate. We have to drink to this when i come homie.
Ba bakabolala ,you have shamed our country. The shares and trading on remain suspened.Who is the real loser?
Thugs gamblers and thieves in the name of lawyers Zambians open your eyes. These crooks called lawyers do not mean well in many times. How come we have lawyers for both sides one will definitely lose but be paid. Thugs gamblers and thieves. Oho?
Would you have preferred that Lewis be hanged even when he had no case? Why cannot you offer your legal services and lodge an appeal?
THE ETHICS AND REGULATIONS IN ZAMBIAS BROKERAGED DRIVEN MARKET IS OSMETHING TO SEE HERE AND WORK TOWARDS IF TAKEN FURTHER AND SEEN IN LIGHT OF PRIORITY OF TRADES,FIDUCIARY,PROPRIETARY,TRADES AND RANKING,BENEFICIAL OWNERSHIP.THE CLIENT AND EMPLOYER ROYALTY AND WHO COMES FIRST,THE DISCLOSURE OF TRADES AND DISSEMINATION OF INFORMATION TOGETHER WITH THE ASSET MANAGEMENT CODE THEN YOU WILL OPEN THE CASE AND SEE THE LIMITATION OF BROKERAGE TYPE OF TRADES ON LUSE
THERE CLEARLY A WEAKNESS
All crooks rubbing shoulders with Lungusha Chinangwa Escobar will walk the streets of this country as innocent persons while all the innocent will be as guilty as (not even yet) charged. I believe there is no appeal even in this case just like in other cases that we all know. The only consolation is that all these issues will once again be resurrected and dealt with in a lawful and not fraudulent manner as now.
Mosho has won his case on merit ! But there is a lawyer PS in Southern province who is shielding thieving civil servants who have stolen money for infrastructure and is pushing for transfers for our hard working fellow Police officers who are doing investigations. The question is was he also a beneficiary or what ? Lungu should fire this thief. There are so many Zambians fit for the job of Ps and not this crook. He has turned even the chief planner who is a married woman into a wife. This is the woman now ruling the province….very shameful. Cases never rot because even the new officers coming will continue to proceed with the investigations.
Firs Lungu himself must be fired before he fires others for professional misconduct
Shoprite get ready for a bomb….Lewis will make you sweat Rands!
Zambian shareholders are at the mercy of crooked and shameless plunderers. Cry mother Zambia where do we go from here, another long and protracted period of waiting. Who will come to the rescue of poor zambian shareholder?