Bank ABC has grabbed a lodge owned by Zacharia Muya, the lawyer for the Ventriglia family. The Ventriglia family are mere minority shareholders in Zambezi Portland Cement (ZPC) but in 2011 had managed to take over the cement plant using lawyers like Muya and former president Rupiah Banda from the real owners, Finsbury. Muya was arrested for money laundering activities in 2012 but the case somehow ‘withered’ at the police station.
But it has emerged that Muya was involved in other ‘quick silver’ operations. He obtained money from two banks using the same collateral. The two banks only discovered the fraud when he failed to pay back both of them. Bank ABC went to court and in no time, the bailiffs were at Mubende Lodge and kicked out the guests.
” What this man did is that he borrowed from Barclays Bank and Bank ABC using the same title deed. He behaved in a very crooked way as if he is not a lawyer. He put is Lodge as Collateral,” the source said.
Mubende Lodge which is situated along the Luanshya Ndola junction in Maposa area was early this month grabbed by Masauso Banda certified bailiffs of Lusaka on behalf of the Bank ABC.
According to investigations conducted by the Zambian Watchdog, Mr. Muuya who happens to be one of the lawyers of the Ventriglia Family of the Zambezi Portland Cement borrowed money from two banks using the same title deed.
Mubende Lodge one of the most prestigious lodges on the Copperbelt has since been vacated and it has been put on sale after the two parties entered into a consent judgement.
Muya who also runs a construction company together with his wife called Laurel Mining and Construction is believed to have almost suffered from depression when bailiffs pounced on the lodge. When the Watchdog crew visited the lodge recently, only security guards hired by the bailiffs were found on the premises.
See photos of the ceased Mubende Lodge in Luanshya.