The recent money laundering bust by the Financial Intelligence has become national news. The amount of money involved in this financial fraud is expected to be more than USD 1.5 billion, which is staggering. On top of that, top lawyers and legal counsellors have been accused of laundering money, including the infamous Sakwiba Sikota. Sikota’s name in the list released by FIC is not so surprising due to his infamous association with the Ventriglias, the notorious family that took over the Portland Cement Zambia and turned it into ruins. The factory, which was once thriving producer of cement, is legally and rightfully owned by noted businessman Dr. Rajan Mahtani. It is safe to say that the lawyers and legal counsellors named in the list of frauds have been previously linked with unethical practices too.
Many top law firms are also linked in this illicit money laundering act. Some of the top law firms are Central Chambers owned by Sakwiba Sikota, Avic International, Makebi Zulu Advocated as well as Shamwana and Company. According to FIC reporters, the majority of these companies are either directly or indirectly owned by top ministers or their conduits. The FIC also revealed that they started conducting deeper investigations when more than 35,000 cash transactions were linked with the personal as well as corporate bank accounts of the lawyers. Also, these accounts and transactions were highly active during certain events such as illegal elections, presidential petition, and trial of the Nigerian oil dealings. It is very clear to see here that the cash transacted during this time was most probably utilised in these unethical events.
It is certainly devastating to see that top lawyers, ministers and corporate houses engaged in money laundering and similar criminal practices when they should be working honestly towards the social and economic welfare of the nation and its citizens.