Police in Lilongwe have arrested three former senior officers from Malawi Leaf Company, a subsidiary of Auction Holdings Limited (AHL) and a businessperson on suspicion that they conspired and stole over K20 billion from the company.
The theft is believed to have happened between 2012 and 2017.
National Police spokesperson James Kadadzera, said the suspects are Jimmy Kasamale, 46, former General manager of Malawi Leaf Company, Francis Madona, 39, former financial controller, Evans Matabwa,51, former chief executive officer and Arthur Madikhula 53, a businessperson owning master Freight Shipping Company, Mauzi Contractors and Global Tobacco Company.
Kadadzera said the suspects will the four will answer counts of theft, forgery, altering of official documents, conspiracy, abuse of office, fraud, negligence and money laundering.
The suspects are being kept at Lilongwe Police Station awaiting prosecution.