Lewis Mosho, the crooked lawyer who is trying to close FNB operations in Zambia stole more than K200, 000 from the same bank he claims to have had no dealings with.
He was actually ordered by the court to refund the money he stole from FNB.
Two weeks ago Mosho, the con lawyer who stole Shoprite shares but bribed judges to find him innocent, started court proceedings to close FNB operations in Zambia. Mosho said he wants FNB closed because it reported him to the Credit Reference agency when he did not and had never owed the bank any money.
But the truth has finally emerged that Mosho stole more than K200, 000 from FNB which was in his account due to a technical error by the bank.
FNB Sources told The Mast that Mosho lied in his letter where he claimed not to have had any facility with FNB Zambia.
Mosho had an account with FNB which he asked the bank to transfer to another bank. The money was transferred to another bank but somehow FNB did not update its system to show that Mosho no longer had money in FNB. His account still showed that he had money with FNB but it also showed that he had the same money in the other bank. But, like the thief and crook he is, instead of notifying the bank, he withdrew the money from both banks.
Banks everywhere make such mistakes all the time but it is settled law that when a bank wrongly deposits money in your account, it is not your money and it amounts to theft to use that money. A lawyer like Mosho knows that very well. How can you start withdrawing money which you didn’t deposit or earn?
“When the bank realized that the debit was not done, they notified Mosho and told him to pay but he refused. That is how the matter was taken to court and judgment in default was entered in FNB’s favor, but Mosho applied for a stay of execution which the judge refused to hear, and this ruling was made in March this year. It was only after that ruling that Mosho was made to pay. Apparently, the report to CRB was made before he paid and the bank, I understand, even wrote to notify them that Mosho has been cleared but it seems their data wasn’t updated,” said the sources.
“Mosho knew about the status at CRB when he tried to get a loan from one of the banks and his application was unsuccessful. Ordinarily, what he should have done was get in touch with FNB first to clear off the matter. But he rushed to writing those threats and claiming not to have had any issue with the bank when he knew very well that there was this case. It is a serious issue that he went to that extent lying when everything is in black and white. We had to deal with this issue with FNB. In fact, go to the courts and search for this case yourself, you will find the details, even if he was refusing.”
And a search at the High Court revealed that High Court judge William Mweemba had refused to set aside a default judgement entered against Mosho in favour of FNB Zambia in a case where the bank sued him over K210,761.35.
The bank sued Mosho in 2015 and wanted the court to order him to pay them K210,761.35 due as at August 10, 2015.
In its claim, the bank stated that Mosho on October 3, 2014 instructed them to transfer K195,000 from his account at his commercial branch to an account held in the name Lewis Nathan Advocates at Zambia National Commercial Bank.
The bank had stated that in effecting the said transfer, the bank was to debit Mosho’s account with K195,000 and credit the account of Lewis Nathan Advocates in turn and in equal sum.
According to the bank, they credited the account of the firm with full knowledge of Mosho with K195,000 but inadvertently omitted to debit his account with the said amount.
“That at a later date, the plaintiff, with the knowledge of the defendant, debited the defendant’s account with a sum of K195,000. However, the defendant’s account had insufficient funds to cover the said amount as the defendant had wrongly and unjustifiably utilised the entire K195, 000, which funds the defendant knew or reasonably ought to have known he was not entitled to,” read part of the statement of claim.
The bank also stated that in order to complete the instructions of Mosho, it debited his account, which account was insufficiently funded as a result of the unjustified utilisation of the funds lawfully belonging to FNB.
“This debt resulted in a debit balance being effected on the said account thereby creating an overdrawn position, which under normal banking practice and procedure, created an overdrawn facility attracting normal and applicable interest rate and other charges,” the claim further read.
The bank further stated that it suffered loss of K210,761.36 being the sum by which Mosho was unjustifiably enriched as well as accruing interest.
Mosho did not enter an appearance and never filed a defence and the court proceeded to enter a default judgment against him. But he applied that it be set aside, adding that he came to learn about the action from the Post Newspapers advert. Judge Mweemba, however, stayed execution of the judgment after the court granted him an ex parte order.
But after hearing from both parties, judge Mweemba refused to set aside the default judgment ordering Mosho to pay the bank.
Judge Mweemba said it was clear that Mosho admitted owing the bank K195,000 but disputed the interest of K15,761.36.
Mosho, in his affidavit opposing the claim, had submitted that he was not aware of how the bank had arrived at K212,761.35 and added that it was his desire to establish the fact before the bank was allowed to earn unjustified profits or before it was allowed to make earnings out of its own negligent acts in the Zambian competitive financial markets.
“I do not accept the defendant’s (Mosho) assertion that he did not know how the plaintiff arrived at the sum of claimed of K210,761.36 as at dated 10th August 2015 and 4th May 2015 made it clear that the overdrawn positions on his account would continue o accrue interest at MPC Rate (then 12.50 per cent ) plus 12 per cent from the dates of demand to date of payment. The two letters are exhibited as ‘GM4’ to the affidavit in opposition further the legal letter if demand dated 5th May, 2015 from the plaintiff legal counsel reiterate that the defendant’s indebtedness then of K199, 279.73 would continue to accrue interest until fully repaid. That letter is exhibit ‘GM1’ to the affidavit in opposition,”he stated.
Judge Mweemba said as the principal sum claimed of K195,000 was admitted and given that the defendant knew the interest rate applicable to the overdrawn position namely MPC Rate (then 12.50 per cent) plus 12 per cent, the defendant did not have a defence on the merits and he had no counterclaim to prosecute.
“I therefore, find no merit in the application of the defendant to set aside the default judgement entered on 4th September, 2015. The application is refused. The ex-parte order staying execution of judgmnet granted on 13th October, 2015 is hereby discharged. Costs to the plaintiff. Leave to appeal is granted,” said judge Mweemba in his ruling.