Tag Archives: Pioneer Investments

corruption, Law and order, Malawi

Malawi court found Zameer Karim case to answer on intent to defraud Ecobank MK850m

Maravi Post Reporter

LILONGWE-(MaraviPost)-The Chief Resident Magistrate Court in Lilongwe on Wednesday, August 23, 2023 found businessperson Zameer Karim of Pioneer Investments with a case to answer on charges of intent to defraud Ecobank Malawi MK850 million by allegedly fraudulently obtaining a loan purportedly guaranteed by Malawi Police Service (MPS).

The court has also acquitted an employee of EcoBank Victoria Chanza who was charged alongside Karim.

Justice Patrick Chirwa sitting as chief resident magistrate delivered a brief ruling saying a detailed ruling will be ready next week.

The court has yet to communicate on dates for the defence stage of the case.

In an interview with Nation online, outside the court after being granted freedom Chanza said: “I knew I did nothing wrong, it was just a matter of time, I thank God, I thank my family and I thank my colleagues.

“I’m just overwhelmed with happiness but above all, I thank God that he has vindicated me.”

Chanza, just like Karim was facing three counts of forgery contrary to Section 358 of the Penal Code, uttering a false document contrary to Section360 of Penal Code and fraud other than false pretences contrary to Section319 (A) of the Penal Code.

Chanza and Karim were arrested in November 2020 on accusations of presenting a Notice of Assignment of Proceeds purporting to have been signed by Malawi Police director of finance and his deputy, undertaking to directly pay Ecobank MK850 million as proceeds of a contract between police and Karim of Oil and Protein Company Limited.

corruption, Malawi

Malawi’s Parliament PAC summons Police Chief Kachama over MK567.8 million Pioneer Investment fraud

Maravi Post Reporter

LILONGWE-(MaraviPost)-The Public Accounts Committee (Pac) of Parliament this week summoned Inspector General (IG) of the Malawi Police Service (MPS), Lexten Kachama, and Treasury officials to explain the interest of K567.8 million Pioneer Investments, a food supplier, is claiming.

The parliamentary committee suspects fraud in the claim and has, therefore, also summoned the Attorney General, National Audit Office and Pioneer Investments officials on the same.

The summoned parties are expected to appear before the committee on Saturday, January 20, according to a letter signed by Pac Chairperson, Alekeni Menyani, which has been sent to the concerned parties.

“You are ordered to come and appear before the Parliamentary Committee on Public Accounts at Parliament Building, to give evidence on the legitimacy of your interest claim totalling K567,866,013.38 for the delay in payment for the supply and delivery of rations packs to Malawi Police Service,” the letter reads in part.

Pioneer Investments is claiming the payment of interest for the food supplied between January 1 2016 and June 30 2017.

The payment for the contract is said to have been done, excluding the claimed interest, which was charged because Pioneer Investments had secured bank loans to buy the items.

The food supplier insists there is nothing wrong with their interest claim but Menyani said the committee feels Auditor General Stephenson Kamphasa was forced to authorise the payment for the 500,000 units of food rations that Pioneer Investments supplied to police.

The Treasury stopped the interest payment after the initial authorisation by the Auditor General, Attorney General and the police.

Menyani emphasised that Pac is doing all the probes in ministries, divisions, corporations and other independent and semi- autonomous bodies.

“My committee will do everything possible to probe and examine all queries in Auditor General’s reports, without fear or favour,” Menyani said.

Kachama is on record to have said the calculations of the claim that the food supplier made were verified and are correct.