Former Namibian Defence Force commander Martin Shalli is keeping about US $500, 000 suspected corruption proceeds in a Zambian bank.
According to Namibian media, Shaili’s account at Standard Chartered Bank in Lusaka has since been frozen by the Namibian government.
The Prosecutor General (PG) of Namibia obtained a preservation order over the money in Shalli’s Zambian account in the High Court on September 30, 2011.
The Namibia government explained that the account was the proceeds of crime, namely corruption, money laundering and offences under the Income Tax Act.
An amount of US$359 526,27 (about N$2,8 million) was in the Zambian account when the PG obtained the preservation order last year.
A State-owned Chinese company, Poly Technologies Incorporated (Poly Tech), paid a total of US$499 950 (about N$3,8 million) into Shalli’s Zambian bank account through two deposits of US$249 975 each in October 2008 and February 2009 respectively.
At the time that the money was paid into Shalli’s account, Poly Tech had a contract to supply military equipment valued at US$126,4 million.
An allegation has been made that the company inflated the prices it was asking for the equipment it supplied.