LILONGWE (Malawi NewsNow)- Cashgate convict Phyoka Oscar Kaunda is serving 13 months imprisonment with hard labour (IHL) on theft charges and also faces another charge of Money Laundering contrary to Section 35(1)(c ) of the Money Laundering , Proceeds of Serious Crime and Terrorist Financing Act.
Kaunda was sentenced by Lilongwe Magistrates Court on January 19, 2017.
Anti- Corruption Bureau (ACB) said in a statement that the Bureau received a complaint alleging that Government officers at Capital Hill were making unauthorized entries into the Integrated Financial Management Information Systems (IFIMIS).
“The Bureau instituted investigation which established that one company which was paid for having no service to Government was Hardline Construction Company,” reads the sataement.
Hardline Company was paid a cheque amounting to K7, 395,431.20.
“He restituted to Government ten percent of the laundered Money which was his benefit from laundering the money.”