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Malawi Fiscal Police arrest Speedy Ltd boss Riaz Jakhura for fraud, out on bail

Director of Speedy’s Limited Riaz Jakhura
Director of Speedy Limited’s Riaz Jakhura in court for fraud

BLANTYRE-(MaraviPost)-Director of Speedy’s Limited Riaz Jakhura, who several months ago fled the country after a warrant of arrest was issued against him over a sour car sales deal, was arrested on Tuesday, November 29, 2022 on allegations of fraud.

He spent six hours at Blantyre Police Station before he was released on bail on account of ill health, according to National Police Headquarters Spokesperson, Peter Kalaya.

In an interview on Tuesday, Kalaya said Riaz Jakhura was arrested following a complaint that he had defrauded a Blantyre-based businessman in a car sale deal.

The Police Publicist revealed that the money involved is MK32 million.

Speedy’s Limited is one of Malawi’s leading car dealers, specializing in utility and luxury vehicles.

Legal Counsel for Riaz Jakhura, Lusungu Gondwe of Ritz Attorneys-At-Law did not respond to our query regarding his comment.

Last week, Riaz Jakhura appeared before the Blantyre Principal Resident Magistrate Court to answer separate criminal charges. The National Police Headquarters Spokesperson said the charges in court and his arrest on Tuesday were unrelated.

On Tuesday, November 22, 2022, Jakhura pleaded not guilty to four counts of criminal trespass, intimidation, assault occasioning bodily harm, and theft of motor vehicle.

His co-accused are Bashir Osman Adams, who is Director at Adams Car Hire Limited, the General Manager for Speedy Limited’s, Jayaraj Gopalani, and Financial Controller, Priyal Chaninda Fernando.

The case continues in February next year.

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