Heritage Coin Resources under DEC- BoZ probe
Heritage Coin Resources Limited which has been trading as financial institution is reported to be conducting its business without a license from the Bank of Zambia and other sector regulators.
The Drug Enforcement Commission (DEC) has cautioned members of the public to be wary of this company which has been offering financial services and collecting deposits.
The Commission and the BoZ are currently investigating the company for activities contrary to the Prohibition and Prevention of Money Laundering and the Banking and Financial Services Acts.
In a statement to Q-News DEC acting public relations officer Kamufisa Manchishi says members of the public who may have been making deposits with the company should remain calm.
Mr. Manchishi has urged them to contact the DEC’s Anti-Money Laundering Investigations Unit for further information.
Meanwhile, Mr. Manchishi says the DEC through its Anti-Money Laundering Investigations Unit in Lusaka has arrested a one person for money laundering activities involving over US $360,000.
Likando Kamayoyo, 32, a Sales Representative of Plot No. N22 Chamba Valley has been arrested and charged with theft by servant, theft by agent and money laundering, contrary to the laws of Zambia.
Particulars of the offences are that the suspect, on dates unknown but between 1st January, 2016 and 1st November, 2017 whilst acting together with other persons unknown did steal agro-commodities worth $366,199.80 US Dollars in separate incidents from his employers and two Agro-Companies in Lusaka.
Facts of the matter are that the suspect in his capacity as a sales representative of a named fertilizer distribution company in Lusaka stole fertilizer worth $49,200.00 by purporting that the said fertilizer had been supplied to a named customer when in fact it was supplied to his company called Agro Home.
The suspect is said to have further fraudulently collected 22,320 x 50Kg bags of white maize grains worth over $316, 000 US Dollars from a named Agro-Company purporting that he was acting on behalf of his employer when in fact not.
He has been released on Police bond and will appear in court soon.