Two Directors of Chibanga Free Range Farm Limited in Kabwe have appeared before the Economic and Financial Crimes Court sitting in Kabwe for a continuation of trial in a case involving over K2-million.
Ester Nalumbwe 29, and Mwangilwa Silumbwe 22, both of Zambia Railways Compound in Kabwe appeared before Magistrate Anna Holland charged with five financial related offences involving over K2-million in cash and various properties reasonably suspected to be proceeds of crime.
ZANIS reports that in count one the duo is charged with the offence of conducting a banking business without a license contrary to Section 6(1) of the Banking and Financial Services Act, Number 7 of the Laws of Zambia.
It is alleged that Chibanga Free Range Farm Limited, Nalumbwe and Silumbwe between 31st December, 2021 and 30th September, 2022 in Kabwe District jointly and whilst acting together did conduct a banking business without a license.
In counts two, three, four and five, the two company directors are charged with possession of property reasonably suspected to be proceeds of crime contrary to Section 71 of the Forfeiture of Proceeds of Crime Act Number 19 of 2010 of the Laws of Zambia.
Evidence adduced before the court is that, between 31st December, 2021 and 30th September, 2022 in Kabwe, the duo did possess K2, 114,812.00 cash in account No. 62943548084 at First National Bank in the names of Chibanga Free Range Limited, the same reasonably suspected to be proceeds of crime.
The further court heard that Chibanga Free Range Farm Limited between 31st December, 2021 and 30th September, 2022 in Kabwe, did possess K47, 630.00 suspected to be proceeds of crime.
The court also heard that between the same periods in Kabwe, the duo did possess two motor vehicles namely Toyota Mark X Registration No. BAT 1462 ZM and Mitsubishi Canter Registration No. ACM 2878, the same reasonably suspected to be proceeds of crime.
Further evidence adduced before the court state that between 31st December, 2021 and 30th September, 2022 in Kabwe, the duo did possess Farm No. 12547 in Muswishi area, the same reasonably suspected to be proceeds of crime.
The state has so far called ten witnesses to testify in the matter.
The first witness, 64-year-old Eunice Mbafwa, a retiree of Luangwa Extension in Kabwe, told the court that, on 2nd August, 2022 she paid K2, 900.00 to Chibanga Free Range Farm to invest in the Village Chickens raring venture that could have earned her K9000.00 after a period of five months.
She further told the court that she made another payment of K6, 000.00 on the 18th August, 2022 in a piggery business that could have seen her K30, 000.00 after a period of eight months.
Dora Muchooka, 63, of Dallas Compound in Kabwe told the court that she invested K28, 000.00 in various poultry and piggery business ventures in Chibanga Free Range Farm with a view of profiting from the business after the sales of the produce.
The state has further called eight more witnesses in the matter before the Economic and Financial Crimes Court who similarly invested their money with a view of profiting.
Meanwhile, during the cross examinations all the witnesses confirmed that, at no point were they told that Chibanga was a banking service and that they willingly invested their hard earned money in the business so that they could benefit from the sales.
They further agreed that the closure of the business by the Drug Enforcement Commission (DEC) frustrated their contracts with Chibanga Free Range Farm Limited.
The matter has since been adjourned to December 26, for continuation of trial and the state is scheduled to call 27 witnesses to testify in the matter.
