Sun 01 May 2011, 04:00 CAT

http://www.postzambia.com/post-read_article.php?articleId=20211

THE Lusaka magistrates court had sentenced a former employee of Barclays Bank Zambia to six years imprisonment with hard labour after finding him guilty of theft and money laundering activities.

Drug Enforcement Commission (DEC) spokesperson John Nyawali said Maclean Chanda, a former foreign exchange processor at the bank, was found guilty of six counts of theft by servant and two counts of money laundering.

Nyawali said Chanda, 39, being a banker at Barclays Bank did steal various amounts of money amounting to US$28,000 and 5,000 British pounds property of the bank which came into his possession by virtue of his employment.

He said the court further ordered the forfeiture of the seized motor vehicle as well as several other household goods.

Nyawali said Chanda was arrested by the anti-money laundering investigation unit of DEC in 2009.

Meanwhile, the commission has arrested a former operations manager for Armsafety Company in Livingstone for money laundering involving over K247 million.

Nyawali said Senefintheniah Mudenda, 28, stole the money from his employer by forging company documents which he used to open a parallel account where he diverted the companies money into his account.

He said Mudenda was further charged with issuing cheques to various customers on insufficiently funded accounts.

Nyawali said he had been released on police bond and would appear in court soon.