USD$ 3 million from Zambezi Portland traced to Dubai

More details of how money was externalised from Zambezi Portland accounts in Zambia to dubious companies in the Emirates have emerged.

Latest bank documents seen by the Watchdog show that more than US$3, 000, 000 (Three million US Dollars) was wired to Dubai just before the general elections in 2011.

But Records at ZPC seem not to substantiate or justify these transactions or what the money was meant for.

According to bank records, Access Bank, Lusaka transferred US$2, 011875 (Two million and eleven thousand eight hundred and seventy five US dollars) on 19thJuly 2011.

On 18th October 2011  Another  US$ 1,213,160 (one million two hundred and thirteen thousand one hundred and sixty US dollars) was wired to the same  fictitious company in Dubai which maintained an account with Standard Chartered Bank, 999 Al Mankhool Road, Dubai.

The letters of instructions were signed by Antonio Ventriglia and Daniele Ventriglia.

See the bank records hereTransfer of USD 2,011,875 ifo Fin-Leasing Ltd 19th July 2011

And Another one here: Transfer of USD1,213,160 ifo Fin-Leasing Ltd 17th October 2011

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