LILONGWE-(MaraviPost)-Former Malawi Energy Regulatory Authority (MERA) Chief Executive Officer Collins Magalasi will remain in custody for the next seven days following a ruling by the Lilongwe Chief Resident Magistrate’s Court on his bail application filed yesterday.
This is to give the state more time to conclude investigations into the espionage case against him.
In a separate matter involving alleged corruption, the Lilongwe Senior Resident Magistrate’s Court has reserved its ruling on Magalasi’s bail application until tomorrow morning.
Magalasi was brought before the court this afternoon, where the state levelled fresh corruption charges against him in connection with the acquisition of Amaryllis Hotel by the Public Pension and Trust Fund from Yusufu Investments.
He was arrested last Thursday and will remain in custody for the next seven days as investigations continue.
Additional charges have been levelled against economist Collins Magalasi, who was yesterday charged with espionage.
The fresh charge sheet contains five counts of corruption, including fraud, theft and money laundering, in connection with the acquisition of Amaryllis Hotel by the Public Pension and Trust Fund from Yusufu Investments.
A member of the governing Democratic Progressive Party (DPP), Magalasi is accused alongside former State Residences Chief of Staff Prince Kapondamgaga and six others.
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