High-value properties forfeited to the State

HIGH-VALUE properties and colossal amounts of money have been forfeited to the State through consent judgements while others via the non-conviction based forfeiture, the National Prosecution Authority (NPA) has announced.

The NPA has announced that in its crusade against economic and financial crimes, the authority had obtained a consent judgement which has since led to the forfeiture to the State of high-value flats in Lusaka’s Jesmondine with an estimated value of K6 million.

Chali Mbewe-Hambayi, the NPA public relations officer said in a statement yesterday that the authority had scored three landmark victories in the fight against economic and financial crimes by facilitating the forfeiture to the State high-priced properties and colossal amounts of money.

Ms Mbewe-Hambayi said in the first case, the NPA had, after a spirited fight successfully obtained a consent judgement that led to the forfeiture of high-value flats in Jesmondine, which had been identified as tainted property and proceeds of crime. “These properties are estimated to be worth well over K6 million and encompass seven fully furnished stand-alone double-storey flats with a communal swimming pool. This forfeiture represents a substantial leap forward in combating illicit financial activities. It serves as a compelling example of the meticulous asset recovery efforts undertaken by the National Prosecution Authority in conjunction with the Drug Enforcement Commission (DEC),” Ms Mbewe-Hambayi said.

She also announced that the NPA had seized and forfeited to the State about K36.5 million belonging to a Nigerian National in the name of Jeffrey Nnaoma Michaels, which amount of money was being held in various bank accounts.

She strated that the money had been identified as tainted property and proceeds of crime and that the money was from the accounts belonging to two companies in the name of Avalon Logistics Limited and Absolute Logistics Limited.

“The said company bank accounts had large value transactions and complicated transfers that were not commensurate to the nature of the registered business. The irregular transactions were flagged in the banking system,” Ms Mbewe-Hambayi said.

She further revealed that using the non-conviction based forfeiture application, the NPA seized and forfeited to the State four Toyota Land Cruiser motor vehicles suspected to be proceeds of crime belonging to The Big Tree Investment Limited.