DPP SEEKS FORFEITURE OF FUNDS FROM KAMONO FARM INITIATIVE
DIRECTOR of Public Prosecutions (DPP) Gilbert Phiri has applied that money ranging between K20,000 to K15 million which is in the seized Kamono Farm Initiative Limited (KFIL) bank accounts should be forfeited to the State.
Mr Phiri has filed a notice of motion seeking forfeiture of the money because it is suspected of being proceeds of crime.
Through Drug Enforcement Commission (DEC)’s Anti-Money Laundering Investigations Unit (AMLIU), the State wants the court to allow the forfeiture.
This is according to court documents filed before the Economic and Financial Crimes Court- High Court division.
DEC Senior Investigations Officer under AMLIU Given Sakala submits that in April 2022, he was assigned a docket involving suspected fraudulent transactions at KFIL.
Following investigations, Mr Sakala established that KFIL had been soliciting deposits from members of the public by promoting investment opportunities in farming ventures.
The company also promised investors a predetermined return on their contributions.
Zambia Daily Mail