The State has dropped criminal charges against four central bankers suspected to have connived with former Reserve Bank of Malawi (RBM) manager, Charles Ezra July Mchakulu and three others, to steal K340 million from the central bank.
RBM spokesperson Mbane Ngwira: The fraud was discovered through a system of surveillance of transactions in the banking system
Mchakulu, together with Lucy Rachel Sukali, Rebecca Martha Chisenga, Olivia Misozi Phiri, Neddie Khonje, Kondwani Cuthbert Banda, Elluby Mhango and Davie Mkhumbwa, were arrested on suspicion that they stole K340 million from the central bank last year.
RBM spokesperson Mbane Ngwira said at the time that the fraud was discovered through a system of surveillance of transactions in the banking system.
The suspected fraud prompted FIA sources to obtain a freeze order with Mchakulu and Lucy Rachel Sukali trading as Ideal Stationery, whose account was used as a conduit to siphon money from the bank, as respondents.
That charges against Neddie Khonje, Kondwani Banda, Elluby Mhango and Davie Mkhumbwa has been withdrawn," reads the order on withdrawal in part.
