The provisional liquidator of Konkola Copper Mines (KCM), Milingo Lungu has called the money laundering charges against him as baseless.
Mr Lungu was yesterday arrested and charged with laundering more than $2 million by the Drug Enforcement Commission.
“The money is said to have come into his possession by virtue of being the Provisional Liquidator for Konkola Copper Mines Plc,” the Drug Enforcement Commission, which handles such cases, said.
Mr Lungu called the allegations leveled by the commission “baseless and untrue” in a statement issued by KCM’s corporate affairs department later on Wednesday.
“I welcome the opportunity to clear my name in Court,” Mr Lungu said in the statement.
“This will be done following due process and not in the Court of public opinion.”
The commission alleged that Mr Lungu, acting with others, “did engage in theft” involving 110.4 million Zambian kwachas and $250,000 between May 22, 2019 and Aug. 15, 2021, and “obtained money by false pretenses” amounting to $2.2 million.
“He has also been charged for money laundering for the said amounts,” the commission said.
Mr. Lungu has been released on police bond and will appear in court soon, the commission said.
According to DEC, Further, after the Commission concluded investigations in some of the matters pertaining to the case at Konkola Copper Mines (KCM) Plc it decided to charge and arreste Mr Milimo Lungu, a male aged 43 of Plot 22763, Mulungushi Road in Roma, Lusaka for obtaining money by false pretenses contrary to section 308 as read with section 309 of the Penal Code Act, Chapter 87 of the Laws of Zambia, Theft contrary to section 280 of the Penal Code Act, Chapter 87 of the Laws of Zambia, and money laundering contrary to section 7 of the Prohibition and Prevention of Money Laundering Act No 14 of 2001 as read with the Amendment Act No. 44 of 2010.
Allegations are that Mr Milingo Lungu, jointly and whilst acting together with other persons unknown, on dates unknown but between 22nd May 2019 and 15th August 2021 did engage in theft involving K110.4m and US$250,000.00.
It is further alleged that he obtained money by false pretenses amounting to US$2,200,000.00. He has also been charged for money laundering for the said amounts.
The money is said to have come into his possession by virtue of being the Provisional Liquidator for Konkola Copper Mines Plc.