Four people have been arrested in Lilongwe after being found with over K3.2 million in fake Malawi Kwacha banknotes and US$2665 in fake US$100 banknotes.
The suspects have been identified as David Nthakayawina, 22, Mazunzo Wawande aged 30, James Umali aged 36 and Abuduh Kaloti, 64.
According to Police, one of the suspects David Nthakayawina deposited K50,000 in fake K2000 banknotes through Airtel Money agent at Mitundu Trading Centre.
Nthakayawina was arrested and when searched at Mitundu Police Unit, he was also found with K168,000 in fake K2000 banknotes.
He later told detectives that he collected about K300,000 fake bank notes from the second suspect, Mazunzo Wawande. His task was to exchange the fake banknotes with authentic ones by either depositing it or buying products.
Police discovered that the two were part of a fake currency syndicate based at Kaphiri Area within Lilongwe.
Lilongwe Police detectives in collaboration with officers from the Reserve Bank of Malawi raided Kaphiri location where the third and fourth suspects were arrested.
At the time of their arrest, third suspect Umali was found with K1.5 million in fake banknotes.
The fourth suspect, Abuduh Kaloti, who is an African Doctor, was found with K1,334,000 in K2000 fake banknotes and K225,000 in K5000 banknotes. He was also found with US$2665 in US$100 banknotes.
Officers also found Abuduh Kaloti with K7,479,000 in authentic banknotes. Police suspect that the money was obtained by fake currency.
The suspects will appear in court soon to answer cases of Found in Possession of Forged Bank Notes, and Using Forged Bank Notes which contravene section 366 of the Penal Code, and section 54, sub section B of Reserve Bank Act of 2018, respectively.
David Nthakayawina, hails from Chadambaira Village, Mazunzo Wawande hails from Mgowa Village, both in Traditional Authority (T/A) Chadza, Lilongwe.