A court in Lilongwe has granted bail to fraud and money laundering suspect Mahmed Shafee Ahmed Chunara.
Senior Resident Magistrate Florence Msekandiana released Chunara on bail on condition that he pays a cash bond of K10 million and produce two surities of K50 million non-cash bond.
The businessperson was arrested on Monday in connection to the importation of free duty cement worth K5 billion.
Chunara, who is owner of Prestige Import and Export, was involved in the deal in which former President Peter Mutharika’s Taxpayer Identification Number (TPIN) was used in importation of the cement as the importer looked to evade tax.
Chunara has been charged with Fraud and Money Laundering. His case is expected to resume in court on August 26 this year.
Another person arrested in connection to the case is Mutharika’s former bodyguard Norman Chisale.
Chisale was granted bail by the Lilongwe Magistrate’s Court on Friday but was re-arrested at the court premises on a new charge of attempted murder.
He is currently on remand at Chichiri Prison.
