Frauds rock Mulungushi University, K204,000 lost in 3 months!

A scam in which Mulungushi University in Kabwe has been losing millions of Kwacha has been exposed and over 15 students have been detained at Kabwe central police station.

According to a source from the accounts department, a student Musonda Chisenga alias Chichi, working in league with a senior Accountant only identified as Musonda has been collecting money from fellow students, under depositing and alter the figures. The students later take the altered deposit slips for them to be cleared.

Musonda the Accountant has a wife at ZANACO Kabwe branch who has been facilitating under deposits which are later altered and entered into the university accounts books as correct amounts.

Chichi has been at the University since 2008, has been repeating and at times excluded just to enable him to execute his clandestine operations. Mulungushi university charges K24,000 per semester but people engaged in the clandestine operation have been paying as little as K4,000 but still get cleared.

What has however puzzled the university authorities is how Musonda has been able to balance books and prepare audited accounts. According to a reconciliation sheet obtained from the bank, the University lost K204,000 between August and October 2014 and the figures could be higher taking into account that the University opened in 2008

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