LUSAKA – The Drug Enforcement Commission (DEC) has disclosed that over $11 million linked to the corruption scandal involving former Foreign Affairs Minister Joseph Malanji and former Secretary to the Treasury Fredson Yamba remains unaccounted for.
DEC Director General Nason Banda revealed that the Commission has intensified investigations into what he termed a complex web of financial crimes, warning that more high-profile figures could be implicated as inquiries deepen.
Speaking during a press briefing in Lusaka, Mr. Banda said the recent convictions of Mr. Malanji and Mr. Yamba marked a significant milestone in Zambia’s fight against transnational organized crime.
“We believe that additional illicit assets and suspicious financial transactions will be uncovered as the investigation continues,” Mr. Banda said.
Mr. Malanji was convicted in a high-profile case involving the illegal acquisition of real estate, over $11 million, and two helicopters, while Mr. Yamba was convicted for willful failure to follow procedure in his role as Secretary to the Treasury.
The DEC insists that the pursuit of justice will not end with the convictions, as investigators continue to trace missing funds believed to be hidden in local and foreign accounts.