The Malawi Police Service has arrested four people over the theft of over 20 Billion Kwacha at the Auction Holdings Limited.
The arrested are three senior officials at the Malawi Leaf Company Limited, a subsidiary of the Auction Holdings Limited.
The theft is believed took place between 2012 and 2017.
Police have identified the three as Evans Matabwa, who was the company’s Chief Executive Officer.
The other is Jimmy Kasamale, who was General Manager as well as Francis Madona who was the company’s Financial Controller.
According to James Kadadzera, National police spokesperson, the businessman is Arthur Madikhula who owns Master Freight Shipping Company, Mauzi Contractors and Global Tobacco Company.
The four will answer the charge of theft, forgery and altering of official documents, conspiracy, Abuse of office, fraud, negligence and money laundering.
Kadadzera has said the four are being held at Lilongwe Police awaiting prosecution.
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