K450,000 loan deal goes sour
Written by Millennium on July 8, 2019
MULENGA MUSONDA writes
A WITNESS testified in the Choma Magistrates Court how a 32-year-old Micro Finance Zambia loan clerk allegedly stole over K450,000 cash belonging to his employer.
Safe Chanda, 32, is alleged to have stolen K466,000 cash from Micro Finance Zambia Limited June 4 and 18, 2018.
His co-accused Lweendo Muyola, 26, was acquitted after being found with no case to answer.
When Chanda appeared before Resident Magistrate Richard Chikalanga for defence, the State informed the court that the prosecutor handling the matter was unavailable and asked for an adjournment to a later date.
Earlier, Choma Micro Finance Zambia Limited cranch supervisor Bridget Mumba testified that Chanda and Muyola were instructed to issue out loans worth K900,000 in Southern Province starting from Monze all the way to Kazungula district.
Ms Mumba said after noticing some inconsistencies in their disbursements she instructed that they return to Choma.
She expected them to come back with K468,117 but they had only K2,120.
Ms Mumba said Chanda told her that he had given the remaining money to his uncle, who had promised to pay back.
At ruling stage magistrate Chikalanga established that there was no evidence to show that Muyola was part of the decision to give Chanda’s uncle the money.
He said Chanda’s intention to repay the money did not insulate him from criminal liability.
Mr Chikalanga found Chanda with a case to answer and acquitted his co accused, Muyola after the State failed to establish a case against him.
The matter was adjourned to July 26, 2019 for defence.
Chanda is on bail.
