Bakili Muluzi’s corruption case: MK500 Million deducted

More funds keep on being deducted from the MK1.7 Billion corruption case involving ex Malawi President Bakili Muluzi and his ex assistant Lyness Whiskey  with the latest one being MK500 Million.

Earlier this year another MK100 Million was deducted as prosecution witness, Victor Banda had told the court that the amount should not be part of the sum because there remained no apparent evidence the ex President corruptly earned it.

On Monday, the court continued hearing the case and the principal witness maintained there was no information on the money deposited into Muluzi’s account.

The deductions, among others, include K11 million whose method of payment was a loan deposited into Muluzi’s account at Loita Investment Bank and a K80 million loan from Stanbic Bank (now Standard Bank) which Muluzi got for the construction of Keza Office Park.

Muluzi’s lead counsel, Tamando Chokotho argued that the court does not have material to ascertain that the K1.7 billion was disproportionate to his client’s known sources of income and that he can only be called to explain how he got the money if his known sources of income have been brought before court.

The defence will submit the amount as deductions continue in the case.

For over six years, Muluzi has been answering charges of corruption in which he is accused of squandering public funds amounting to MK 1.7 billion.