Police at Ndirande in Blantyre have recovered 8 motor vehicles and they have arrested Vincent Banda aged 25 who allegedly used the vehicles as collateral to obtain loans totalling K22 million.
According to Widson Nhlane, Public Relations Officer for Ndirande Police Station, the suspect in the month of April hired two vehicles belonging to Tinkhani Benjamin aged 34 on self drive.
In the first two weeks, he honoured the payments but thereafter he could not be traced forcing Tinkhani to report the matter to Ndirande Police Station.
Upon receipt of the report, detectives from Ndirande Police swiftly launched a manhunt and Vincent was later arrested in Mulanje while driving a different hired car.
Upon being quizzed by the detectives, it was revealed that he used these motor vehicles as collateral to borrow huge sums of money from different people.
He would trick the potential clients by using fake car documents to justify that he owns them.
After further invetigations, it has been established that he used eight motor vehicles as collateral and collected K22 million from different clients.
Vincent Banda who comes from Chilomoni Village in Traditional Authority Kuntaja in Blantyre District will appear in court to answer charges of obtaining goods and money by false pretences.
Police have since warned Malawians against hiring their cars to suspicious people and also avoid giving huge sums of money to people not familiar with or using suspicious documents.