KCM FORMER LIQUIDATOR FORFEITS $24 MILLION TO STATE
KCM FORMER LIQUIDATOR FORFEITS $24 MILLION TO STATE
Former Konkola Copper Mines KCM provisional liquidator Milingo Lungu has forfeited to the state 24 million dollars.
In a consent judgement, Mr. Lungu has been ordered to surrender one share in KCM Smelterco Limited and Konkola Minerals Resources Limited back to the respective companies among other orders.
In this matter the Director of Public Prosecutions (DPP), Gilbert Phiri had asked the court to order for the forfeiture of more than US$24 million from Mr. Lungu because they were tainted property suspected to be proceeds of crime.