http://tips2survive.com/category/situational-awareness/ By Staff Reporter
source link Transactions in his account from Chinese Contractors?
Earlier this week Zambia Reports published statements of a bank account owned by President Michael Sata, where almost a quarter million dollars had been made in small cash deposits by an individual alleged to represent a Chinese contractor which had been awarded tenders by the Roads Development Agency (RDA).
Given the nature of the deposits in this account and relatively modest amounts, it is highly unlikely that this is the primary personal account of Mwango Sata.
Unlike Sata’s account, Mwango’s account #0015045305005 is held in Zambian Kwacha and was highly active on the outgoing withdrawals and spending. The account was opened on October 21, 2011, about a month after his father won the election with an initial deposit by an individual listed as “KATONGO KALONDE.”
Soon, however, Mwango Sata began to enjoy a stream of income from the same individual who had filled his father’s account. On April 24, 2012, Mwango Sata received a K25,000,000 cash deposit from Brenda Zulu, the same individual believed to be connected to China Jiangxi that paid the president nearly a quarter million dollars. On May 2, Mrs Zulu made another K25,000,000 to the president’s son, followed by another deposit of K5,000,0000 on July 6, and another K25,000,000 on August 1, and the same amount again on August 15. It turned out to be a very busy month – Brenda Zulu made another K10,000,000 on August 21, and another K25,000,000 cash deposit on August 27.
Brenda Zulu continued to make three separate cash deposits totaling an additional K30,000,000 in November 2012.
The account also shows Mwango spending on food, drink, and luxury products in Cape Town, Johannesburg, and London, including purchases at stores like Burberry and Lacoste. Mainly, however, Mwango Sata made regular large cash withdraws from the account.
According to company registration documents revealed by Zambia Reports last month, Mwango Sata, along with his mother and his brother in law, sit on the board of a company known as “Kasachi Logistics Limited” which has reportedly received numerous single-source contracts from RDA.
The accounts held at Finance Bank are believed to be overseen by the institution’s chairman, Rajan Mahtani, who was under investigation for money laundering by the Drug Enforcement Commission (DEC) with assistance from the United States government in 2011 before the election of President Sata.
Stay tuned to this space for the publication of Mwango Sata’s 2013 account statements in the coming days.