It is not K5 billion, corrects DEC

The Drug Enforcement Commision says the amount of money suspected to have been stolen by a Barclays employee Nathan Lungu is not K5billion but K1.8 billion.

Said DEC spokesperson in a statement: ” the Commission would like to confirm the arrest of a Cards Operations Manager at Barclays Bank (Z) Plc for various money laundering activities involving over K1.8 billion.

“Nathan Lungu, 38, was arrested together with Davies Mubanga, a businessman of Lusaka.

“Contrary to reports by some sections of the media, Mr. Lungu siphoned a total of K1, 842,326,680 within a period of five years from an account of an international chain store operating in Zambia.”

Nyawali said that Lungu manipulated the account of the chain store by diverting the monies to the account of his co-suspect and later withdraw the monies through Automated Teller Machines.

The diverted monies involved those which were swiped by customers of the chain store.

He said the the two are detained in Police custody awaiting trial.

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