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.