The Drug Enforcement Commission and the Bank of Zambia are investigating a Company trading as Heritage Coin Resources Limited which has been operating in the Financial sector without a license from the Bank of Zambia and other sector regulators.
Drug Enforcement Commission Deputy Public Relations Officer Kamufinsa Manchishi said the Company is being investigated for activities contrary to the Prohibition and Prevention of Money Laundering as well as the Banking and Financial Services Acts respectively.
“The company has since been offering financial services and collecting deposits from members of the public. As such, the Commission together with the Bank of Zambia are currently investigating the company for activities contrary to the Prohibition and Prevention of Money Laundering as well as the Banking and Financial Services Acts respectively”. Mr. Manchishi has said.
Mr. Manchishi urged members of the public who may have been making deposits with the company to remain calm and contact the Commission’s Anti-Money Laundering Investigations Unit for further information.
“The Commission wishes to warn members of the public to always be cautious when dealing with financial institutions owing to the increase in financial crimes as well as companies promising unusually high returns on deposits”. He added
Meanwhile, Mr. Manchishi said the Commission through its Anti-Money Laundering Investigations Unit in Lusaka has arrested one person for money laundering activities involving over $360,000.00 United States Dollars.
Likando Kamayoyo, 32, a Sales Representative of plot number N22 Chamba Valley in Lusaka District has been arrested and charged with theft by servant, theft by agent and money laundering, contrary to the laws of Zambia.
“Particulars of the offences are that the suspect, on dates unknown but between 1st January, 2016 and 1st November, 2017 whilst acting together with other persons unknown did steal agro-commodities worth $366,199.80 US Dollars in separate incidents from his employers and two Agro-Companies in Lusaka.
Mr. Manchishi said facts of the matter are that the suspect in his capacity as a sales representative of a named fertilizer distribution company in Lusaka stole fertilizer worth $49,200.00 by purporting that the said fertilizer had been supplied to a named customer when in fact it was supplied to his company called Agro Home.
He said the suspect further fraudulently collected 22,320 by 50Kg bags of white maize grains worth over $316, 000 US Dollars from a named Agro-Company purporting that he was acting on behalf of his employer when in fact not.
Mr. Manchishi said the suspect has been released on Police bond and will appear in court soon.