ULTIMATE INSURANCE DIRECTORS WERE ARRESTED, COMPANY GRABBED FROM THEM FOR INSURING HH’S VEHICLES
It was one of the fastest growing insurance companies in Zambia until Ultimate Insurance made a grave mistake of insuring vehicles for Hakainde Hichilema, who was then leader of the opposition. For that mere, innocent business transaction, Ultimate Insurance majority shareholders were stripped of their freedom and shares in the company.
The Satanic PF regime used the 35% minority shareholder Felicitas k Chibamba, the wife of Chanda Katotobwe to start a fight with the 65% majority shareholders Marshland Consortium.
Chanda Katotobwe, who has just been elected MP for Luapula constituency is a close confidant of ex-president Edgar Lungu and is a business partner of PF Secretary General Davies Mwila.
Chanda Katotobwe is the proprietor of Tomorrow Investments which was once blacklisted for corruption by Late President Mwanawasa.
The owners of Marshland Consortium, Tobias Milambo, Nachi Musonda and Richard Lubemba, were suspected of sponsoring UPND after the PF government discovered that president Hichilema’s fleet of motor vehicles were insured by Ultimate Insurance Company.
Tobias Milambo the MD of Ultimate was automatically tagged a UPND member because of his tribe and the trio was detained multiple times.
While in detention and denied bail (even though the fake charge was bailable) Mill look Milambo’s mother died but the court refused to grant him permission to go attend the funeral. Katotobwe’s lawyer Sakwiba SIkota told the court that there is nothing special about a criminal’s mother dying while he is in detention.
Others who suffered in the process is the registrar of PIA Christopher Mapani who was labeled UPND for his tribe and for refusing to cancel Ultimate Insurance license.
Chanda Katotobwe working with the then Police IG and junior officers Lenny Shonga and Clementina Mapulanga seized all Ultimate Insurance bank accounts amounting to ZMW 11,000,000.00. The officers also seized personal accounts of the majority shareholders.
After finally grabbing the Company from the majority shareholders through a judgment bought from Corrupt Judge Kazembe Chenda , the money was spent on campaigns which saw Chanda Katotobwe elected MP for luapula constituency, this is after Katotobwe messed up Kabanshi with social cash transfer cases.
Employees of Ultimate Insurance have not been paid their benefits and clients with claims have nowhere to go as the offices are closed.