Friday, May 24, 2024

Zambians react to Former KCM Provisional Liquidator Milingo Lungu ‘s Forfeiture of $24 Million to the State

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In a significant development, former Konkola Copper Mines (KCM) provisional liquidator, Milingo Lungu, has forfeited a staggering $24 million to the Zambian state. The funds, deemed to be proceeds of crime under section 71 of the Forfeiture of the Proceeds of Crime Act No. 19 of 2010, were surrendered following a consent judgment reached between Lungu and the state.

The forfeiture of the substantial sum follows an application for non-conviction forfeiture filed by the Director of Public Prosecution (DPP), Gilbert Phiri. The Economic and Financial Crimes Court, High Court division, received the application, wherein it was asserted that various amounts held in different accounts of Lungu’s law firm were tainted property obtained from illegal transactions.

Specifically, the seized amounts include over $7 million held at FNB, over $7 million held at Stanbic Bank, and $10 million held at ABSA Bank. This forfeiture marks a significant victory for the State in its pursuit of justice against financial malfeasance.

In response to the development, voices from various quarters have weighed in on the implications and significance of Lungu’s forfeiture. United Party for National Development (UPND) MP Romeo Kangombe issued a statement, decrying the forfeiture as evidence of the “Patriotic Front being a criminal syndicate.” They questioned the motives behind the KCM liquidation, alleging widespread looting.

“For those of you who were still doubting about the Patriotic Front being a criminal syndicate, the forfeiture of $24 million dollars to the state by former KCM Liquidator Milingo Lungu, is your answer.If a single individual tasked to liquidate KCM could defraud the country to a tune of $24 million, how much do you think his appointing authority got away with?” he asked

“Citizens of this country were deceived into believing that the liquidation of KCM was in national interest but the forfeiture of $24 million dollars has exposed the real reason behind the liquidation. Looting! When suppliers and workers were languishing in poverty, Lungu and his junkies were busy enriching themselves. Surely, how greedy can one be? With all the hefty salaries and allowances of the Presidency, he chose to also steal from the poor people of Chingola and other areas where KCM operated from. All criminals must be brought to book regardless of their status in society. Forfeiture is actually an admission of guilty and Milingo Lungu has admitted to defrauding the people and therefore must face the full wrath of the law,”Mr.Kangombe said.

Similarly, social commentator Laura Miti expressed disbelief at the magnitude of the forfeiture, suggesting that the recovered amount might only be a fraction of what was unlawfully acquired. She raised concerns about the wider implications of such corruption on Zambia’s economy and society.

“How an individual, in a small economy like Zambia’s, can have 24 million USD that he criminally acquired, to give back to the state so that he stays out of jail, just fries the mind.

Without question, that amount is not all he took. Chances are, a good stash is offshore right now.

To think that this is one person only! He was not the President nor Vice President. He was simply the President’s lackey.
Just how much was then taken out of our economy by the whole PF regime?

Bigger question – what was the plan? To turn us into Haiti? Some runaway gangland? Point is, sooner or later, money to line pockets from top to bottom was going to run out, but the appetite for astronomical wealth would have remained. Then dog eat dog would have hit.

US$24 million USD! The number of indigent Zambians that kind of money could place on social cash transfer, the amount of the forever in-short-supply cancer drugs purchase – simply the lives saved”, Laura Miti exclaimed.

Hon. Imanga Wamunyima Jr., Member of Parliament for Nalolo, condemned the criminal enterprise surrounding the KCM liquidation, emphasizing the enormity of Lungu’s forfeiture. He highlighted the disparity between Lungu’s ill-gotten gains and the hardships faced by unpaid workers and suppliers.

“Milingo Lungu, do you feel any shame? What about you President Lungu?? ” Hon Wamunyima asked

“US$$24 million forfeiture is not childs play! The liquidation of KCM was a criminal enterprise. While we understand the issues that led to the state taking over, a single individual surrendering $24 million is not Childs Play. Mr Milingo Lungu was capable of funding 20 constituencies with the enhanced CDF from his bank account. While numerous suppliers remained owed and workers remained unpaid we had such theft with impunity.

By the way mines which include KCM have been declaring losses for many years yet an individual accrued this much from its liquidation. While this recovery should have really ended up in a conviction and not consent judgement, the recovery is commendable.A crop of such leaders have no moral right to ever want to rule this country ever again!,Hon Wamunyima said.

The National Prosecutions Authority (NPA) further announced a series of successful forfeitures totaling over $30.9 million from various high-profile cases in the past month. The recovery of such substantial sums signals a concerted effort by Zambian authorities to combat financial crimes and hold perpetrators accountable.

30 COMMENTS

    • Where is Deja Vu, Spaka, Gunner, Kaizar Zulu no wamupata or in short the “regulars” Can you see how greedy Zambia’s political players and their lawyers are? He wanted to steal $24 million? eka sure? That tells you there’s more where that is coming from. It also gives you a glimpse of what these political actors on the stage are playing around with. While you struggle with a Kantemba in the komboni or a wreck of a minibus on the Chilenje route.

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    • The liquidation of KCM was not only a criminal enterprise, It’s also a ECONOMIC SUBOTAG a crime punishable by life imprisonment. Can Nawakwi Carrington say something.

    • Only in Zambia a $1 million is abused. Now $24 million stolen as salary?
      Sale Milingo Lungu to country like Iran where he can be sentenced to death. There is no death sentence in Zambia.
      There was that thing with same Edgar instructed to steal The Post Newspaper through liquidation. It just walked away with money.

  1. This how HH also stole through liquidation…they are all crooks starting with Chiluba…non of these people have the interest of poor Zambians at heart, just to line their pockets.

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    • ******we. Your thief Milingo Lungu was taken to court, children of Lungu have been taken to court. Why didn’t ECL take him to court for ten years defunct TuPF were in power and HH7 was in opposition? Why can’t you take him to court now you stupid *****?
      Nawakwi was cabinet minister why didn’t she take him to court under MMD government?
      Leave the man alone to develop this country
      Mulenya mulelapila because he’s here to stay up to and probably beyond 2031

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  2. Where is Deja Vu, Spaka, Gunner, Kaizar Zulu no wamupata or in short the “regulars” Can you see how greedy Zambia’s political players and their lawyers are? He wanted to steal $24 million? eka sure? That tells you there’s more where that is coming from. It also gives you a glimpse of what these political actors on the stage are playing around with. While you struggle with a Kantemba in the komboni or a wreck of a minibus on the Chilenje route.

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  3. It was illegal for Milingo as liquidator to begin to manage KCM assets. When the UPND saw how buttered the KCM bread was, they asked Milingo to vacate office and granted him immunity in exchange. They appointed Nair to continue the same illegalities. She has even allowed fictitious UPND companies access to KCM mining sites for illegal mining and Sensele is one of them. She’ll be arrested immediately tables change in 2026. So, both the PF and the UPND are criminals

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    • Badala……

      When is kakubo being appointed back in GRZ as you promised he would ……???

      Why should any read your posts when you peddle such ridiculous scenarios ???

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    • It was not the current government that gave mining immunity. It was PF appointed Suyuni who did so. Little wonder why she was fired. When the current government DPP was appointed he tried to remove that immunity leading to this settlement. Lawyers and politicians have been a massive let down in this country. Now journalists, accountants and engineers have joined the bandwagon of self serving criminality. Liquidation is now the new conduit for looting. Same thing happened at ndola lime under MMD. So whenever you hear politicians and lawyers shout Liquidation, just know it looting time. The will treat state assets like goods fallen out of a truck.

  4. ……..

    That amount is just pocket change compared to the money stolen at the top………..

    If cader PF thugs had thousands of cash money dollars to show off on social media…….

    Imagine what the top had accses to and aquired ??

    It was a fantastic festival of looting and stealing under Edgar lungu……….

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  5. People are so blinded & have short memory… this is how the officer-in-charge of our crying beloved nation did during FTJ. Politicians are so short-sighted together with their praise singers….what goes around always come around. Benangu muzalila wait!!! Himself became a millionaire bcoz of such but has his dogs after his liking. Let all thieves pay back

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    • According to HH …….

      There is a 3 bed fully furnished house waiting for people like you , if you can prove HH did anything illigal………..

      Even 4 successive GRZs failed yo find anything……..

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  6. Am here working for minimum wage US$10 an hour and someone is giving away US$24 million dollars in a country where people survive on less than US$1 a day

  7. When the country is begging for debt structuring others have millions stashed
    In their accounts.How will those countries
    React to see this?What about his bosses
    How much did they get?

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  8. That is for sure, the PF was looting left, right and center. But improve the lives of Zambians otherwise they do not see the necessity of all this.

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  9. This is nothing. US $33 billion is what Michaeal Sata and Edgar Lungu borrowed and looted. There are 20 million Zambian, meaning each man, woman, girl and boy, regardless of age, owes $1 550 in debt. The exchange rate is about K24 to $1. This means that each man, woman, boy and girl, regardless of age, owes K39,600 in debt becasuse of thos two. If there are 5 people in the house, they all together owe K198 000 in debt to foreigners….

  10. Unbelievable! Everyone knows PF criminal enterprise was looting national resources, but what is surprising is just the sheer size of how much they were looting.
    Surely all these banks must have known supposed wasn’t right… they should also be prosecuted for being conjuit and aiding criminality. Wow

  11. This is HH’s doing to paint ECL black. The ND govt has siphoned money from KCM through the liquidator, Celine Meena Nair, who succeeded Milingo Lungu. Ba ACC investigated the Solicitor General over his dirty deals with Milingo Lungu and that case discontinued because HH didn’t want any of his men and women to be associated with KCM saga. How do we know that the subsequent liquidator didn’t dip fingers in the KCM?

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  12. ZESCO please, today again power came at 20 31hrs instead of 20 00hrs here in PHI after loading shedding from 12hrs and it is now 20 51hrs and it has gone 3 times and there is no power now. Just what is the issue please, this is not a free service, we are paying for it please

  13. Baice you don’t understand things, what is more criminal is the giving back of this mine to vendata an international conman, and ruthless thug, if you only knew how much that guy was syphoning from kcm per month, you can’t tolerate him near KCM.
    Lungus regime was criminal to allow this level of looting and hh regime is savage to surrender this mine back to vendata

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