LILONGWE-(MaraviPost)-The senior resident magistrate Florence Sekandiwana on Tuesday, June 22, 2021 formally charged four FISD Company Limited directors after eight months released on bail.
The charges leveled against them including conspiracy to defraud, theft by public servant, obtaining money by false presence and money laundering.
This comes after the state finally submitted formal charge sheets against the FISD directors, namely; Moses Chirambo, Frank Mwenechanya, Kondwani Namchukwa and Aurther Mpama.
But the four pleaded not guilty to the charges.
Hearing of their case, senior resident magistrate Sekandiana adjourned to July 16 and 17 where the state, which prayed for the adjournment, will be expected to parade its witnesses.
But FISD limited lawyer, Gift Nankhuni, reiterated his displeasure at the slow pace the case is taking, saying the state was actually supposed to present these formal charges way back.
However, Nankhuni said he is ready to defend his clients in the court of law come July 16 and 17.
“I will not say much now because the matter is in court. But we are ready on our part. We will defend our clients accordingly,” said Nankhuni.
The Fisd Company Limited directors were arrested in November 2020 on allegations of conspiracy to defraud, theft by public servant, forgery, uttering false documents, obtaining money by false pretence and money laundering.
Since the FISD directors were arrested, their case has “overly” delayed because the state had been asking for “more time” in order to prepare formal charges.
Tuesday’s court appearance came after more than four “unfruitful” appearances during which the state had asked for adjournments in order to “wind up” investigations.
The arrest of the four FISD directors came on the back of a protracted legal wrangle in the High Court of Malawi Commercial Division between FISD Limited and government and the African Development Bank (AFDB) on the management of a water supply project contract FISD was awarded in Ntcheu.
After their arrest last year, the FISD directors were remanded to Maula prison for five days until their bails were granted on November 13, 2020.
On several occasions the state has been failing to show the court real charge sheet until today.