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Director of Public Prosecutions (DPP), Gilbert Phiri, has initiated legal proceedings in the Economic and Financial Crimes Court to forfeit properties worth more than K9 million allegedly connected to a money laundering scandal involving three directors of the National Housing Empowerment Fund (NHEF).
The scandal implicates Lusuntha Ngulube, Kamphembele Ngulube, and Margaret Mabingo, who are accused of defrauding the public under false pretenses of selling plots between April 2020 and August 2022.
NHEF allegedly swindled individuals by advertising plots for sale at Farm No. 302A, located in the Cross Park area along Leopards Hill Road in Lusaka, and Farm No. 9819, popularly known as Emerald Park Estates in Chongwe district.
The application targets assets believed to be proceeds of crime, including funds in accounts at First National Bank (FNB), Zambia National Building Society (ZNBS), and NATSAVE, as well as 18 motor vehicles.
Drug Enforcement Commission investigation officer, Yona Siame, has submitted that investigations revealed substantial withdrawals from FNB account number 62840820999, totaling K100,069,754 by Kamphembele Ngulube, K450,000 by Mabingo, and K1,205,000 by Lusuntha Ngulube.
Further probes disclosed monthly payments totaling $645,264 to Dr. Sonny Paul Mulenga of Chainama Hotels Limited for a property along Great East Road.
Siame visited NATSAVE Bank’s Lusaka head office, where the manager stated that NHEF had entered into a Memorandum of Understanding (MoU) with the bank on April 16, 2021, to collaborate on developing Farm 302A, also known as Riverdale City.
However, the partnership failed to materialize after NHEF refused to allow NATSAVE Bank to manage the deposits from interested members of the public who wanted to purchase plots. On September 2, 2022, NATSAVE Bank officially terminated the MoU following a public outcry over deposits made towards plot purchases.
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