NBS Bank executive arrested for fraud

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Police in Blantyre on Tuesday arrested a senior banker at NBS Bank for stealing millions of money when he was working for another bank.

Matthias Sulumbu who is Chief Financial Officer at NBS stole K55 million while working as Head of Finance at FDH Bank.

Sulumbu who is a qualified accountant was taking money from the FDH Bank account and transferring it to his personal savings account.

A senior officer at Fiscal Police Isaac Norman told the local media that the suspect spent Tuesday night in Police custody and will face charges of money laundering, theft by servant and fraudulently false accounting.

“He has just been arrested and we hope within the 48 hours as prescribed by the laws of Malawi he will appear before the court,” said Norman.

Sulumbu hails from Magulugulu village in Karonga district.

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