FDH Bank has refuted reports that Mulanje lawmaker George Chaponda has millions of money at the financial institution.
The rumours came hours after a raid by the Anti-Corruption Bureau (ACB) and Police found over $58,000 cash stashed in suitcases at Chaponda’s residence.
The investigators also found K124 million cash at the minister’s house where they went to look for information on the maizegate saga.
Rumour mongers claimed that Chaponda also has K800 million deposited at FDH bank.
But the bank through its official Facebook page, FDH Bank Malawi, has said that the rumours are unfounded.
“FDH Bank has noticed that there are some rumor circulating that the former Minister of Agriculture, Dr George Chaponda has money at FDH Bank to the tune of MK800 million. FDH Bank would like to state that these rumors are not true and [are] unfounded. As a result, we ask all well-meaning individuals to ignore these rumors because they contain no truth. FDH Bank as a credible financial institution will abide to the confidentiality relationship that exists between the Bank and its customers. Posted FDH bank,” reads the statement.
Authorities are investigating Chaponda following a recommendation by a commission of inquiry that he should be probed over suspicious dealings with Transglobe Limited during the purchase of maize from Zambia.
After the huge sums of money were found at Chaponda’s house, Mutharika sacked him as minister of agriculture, irrigation and water development.
It is now expected that Chaponda will face more charges other than those related to maizegate if investigators find it necessary to charge him.