NBS Bank K1 billion fraud case progresses
Office of the Director of Public Prosecutions (DPP) has expressed satisfaction with progress of the case in which NBS Bank was allegedly defrauded close to K1 billion.
In the case, businessperson Dickson Kachingwe is accused of conniving with two former NBS employees, Victor Banda and Goodson Kapalamula, to defraud the bank between 2015 and 2016.
Monday, the State paraded four witnesses who are NBS Risk Manager Harold Phiri, Operations Manager Faith Jere, NBS Multi Skill Consultant Jacqueline Chatambwa and Sales Team Leader Clara Munthali— who were working with the accused the time the alleged crime happened.
The court heard from the witnesses that Kachingwe colluded with former NBS operations manager Banda and former NBS accounts officer Kapalamula and manipulated the Same Day Value Facility to defraud the bank.
Same Day Value Facility is a service in which liquid customers are allowed to access funds of a cheque while the cheque is yet to be cleared.
The court heard that, using the facility, Kachingwe was depositing cheques and accessing the funds but the cheques were later referred to the drawer, yet the accused employees were declaring as if the cheques were cleared.
Senior Assistant State Advocate Dzikondianthu Malunda said they were satisfied with progress of the case.
“We have paraded three witnesses and one who was remaining with cross-examination, making it four witnesses. Therefore, we have made very good progress and we are happy with the way the case is progressing,” he said.
One of the lawyers for the accused, Christopher Masanje also expressed satisfaction with progress.
“This is the largest number of witnesses for this case; as such, we believe that this is good progress and, hearing that they are only remaining with two witnesses, we think we are going towards the end of the matter,” he said.
The State is remaining with two more witnesses which it will parade this month under High Court Judge Dorothy Nyakaunda Kamanga.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.
