Businessman arrested for issuing Cheques on insufficiently funded account

A Ndola based businessman has been arrested for allegedly issuing cheques, amounting to over 2.4 million Kwacha, on an insufficiently funded account.

FLOYD MAYAMBA 49 has been arrested following a complaint from a Kabwe businessman, who was issued with the 4 cheques.

MAYAMBA, who was picked in Lusaka yesterday around 14 hours, had issued the cheques on pretext that he was paying for 4 tractors, valued at 2.4-million Kwacha.

Police Spokesperson, RAE HAMOONGA has confirmed the arrest of MAYAMBA, who is believed to be trading as Inter-Fertilizer Commodities Exchange.

Mr HAMOONGA said the suspect is also wanted by police in Ndola on the Copperbelt, and Kalomo in the Southern province, where he is believed to have committed similar offences.

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