THE Anti-Corruption Commission (ACC) has forfeited properties of late second Republican President Dr. Frederick Chiluba to the State.
The properties are valued at over K40 million.
ACC Public Relations Manager (PRM) Timothy Moono confirmed in a statement to ZANIS yesterday.
Mr. Moono said the properties in question have been on rent to various tenants from the time the Commission seized them and the rentals have been kept by the Commission pending the outcome of the Supreme Court proceedings.
The rentals accrued so far amount to over K14 million of which over K4million in the Kwacha Account while over $1.2 million in the Dollar Account.
“Dr. Chiluba did not make any claim for the property when the investigations were proceeding and at the time the gazette notice was issued.
” The current estimated market value of these properties is K40m and the judgment of the Supreme Court is that these properties and the money have been forfeited to the State,” he said.
Mr. Moono said the case involved Tedworth Properties Incorporation whose matter had been in the public domain and has over the years, attracted significant public interest.
In 2002, the ACC instituted investigations into suspected corruption in the manner Tedworth Properties Incorporation Limited, a company incorporated in Panama, acquired properties in Zambia.
The property acquired by Tedworth Properties are Plot No. 4828, Alberg Court, located along Addis Ababa Drive, Longacres, Lusaka which also comprises 21 residential flats.
Others are Plot No. F/488a/26/C, Horizon House, located along Leopards Hill Road, in Kabulonga, Plot No. F/488a/26/D, Chibote House, located along Leopards Hill Road, in Kabulonga in the Capital City, Lusaka.
The ACC public relations officer said the properties were suspected proceeds of crime and thus in the course of investigations, recovered and seized by the Commission.
He revealed that during investigations, it was established that the properties were being managed by local property managers namely Access Financial Services Limited and S.P Mulenga and Associates.
“On 30th September 2010, the High Court ruled in favour of Tedworth Properties Incorporated but the Commission appealed the judgment of the High Court but the Supreme Court overturned the judgement.
On 29th December 2016 the Supreme Court awarded with Costs to the State.
Mr. Moono however, regretted that the matter had taken long to reach conclusion.
Mr. Moono said fighting corruption requires a lot of commitment, patience, courage and professionalism in the face of adversity.
“The Commission will continue and has placed a lot of emphasis on prosecuting and recovery of ill-gotten wealth, regardless of the persons or entities involved,” he said.
Discussion about this post