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Former Zanaco banker arrested over K 500,000 theft

Written by on July 16, 2019

By Clinton Masumba, Kitwe
A former Zanaco employee in Lundazi District, Eastern Province has been arrested for alleged money laundering activities involving over K 500,000.
Drug Enforcement Commission Public Relations Officer Theresa Katongo has identified the suspect as Phanny Chaponda, 34, of House Number RR 15, Kanjala Compound in Lundazi.
Ms Katongo said the suspect has been arrested for theft by public servant and money laundering, contrary to the laws of Zambia.
Particulars of the offence are that Phanny Chaponda on dates unknown but between 1st May, 2017 and 31st December, 2018 in her capacity as an Assistant Preferred Banker at Zanaco Lundazi Branch did steal K573, 910.50 which she fraudulently transferred from various dormant accounts into two accounts she had access to and later withdrew the funds via Automated Teller and Point of Sale Machines.
The suspect further bought two plots in Lundazi and built two houses on one of them. She also purchased a motor vehicle, a Toyota Allion ARB 3604 ZM and a 49 Inch LG LED TV.
Also seized during investigations are several accounts with about K170, 000.00 linked to this fraud.
Ms Katongo said the suspect has since been released on Police bond and will appear in court soon.

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