Swiss Businessman Nicola Bogdan Buzaianu has instructed his lawyers to sue the Zambian government and the Zambia media for libel in relation to the so called stolen gold issue.
President Michael Sata a few weeks ago told the nation that Buzaianu flew in the country to facilitate the sale of the gold and met former president Rupiah Banda.
Sata went on to say that former state house spokesperson Dickson Jere and James Banda met Buzaiana a person the DEC has implicated in the purchase of the gold and was wanted by police in Zambia.
But Buzaiana has instructed his lawyers from Europe working with Sakwiba Sikota to start legal proceedings immediately saying his name has been damaged when he was not in any way involved in the gold matter.
Buzaianu is demanding US$100million from the Zambian government for the defamatory remarks made by President Michael Sata and religiously published by the media.
In 2007, the DEC seized 119kg of Gold worth over US$7million at the Lusaka International Airport from two Zimbabwean nationals who tried to evade sanctions against Zimbabwe and tried re-export the gold through Zambia.
The gold was bought at $4m (K19Billion)by some Swiss companies after the intended sale was advertised in Zambian missions abroad.
But following the presidential directive, the police have been summoning and investigating individuals in the previous government.
Those summoned so far are former DEC Chief, Aaron Zulu and Likolo Ndalamei, former Secretary to Treasury, former Attorney General, Abyud and Dickson Jere.
It is believed that some of the money from the gold was used by the DEC to offset some of its debts following advice from government.
About K9 billion is still in the government account.
Following the revelations that the gold was lawfully sold, the direction of the investigation has shifted from stolen gold to missing money from the sale of the gold.