THE Lusaka Magistrates’ Court has heard that Ultimate Insurance Company Limited paid Nchito & Nchito Associates over US$26, 000 as legal fees through ABSA, formerly known as Barclays Bank.
A witness has testified that this was after the company instructed the bank to transfer US$26, 160.38 to the law firm.
ABSA relationship manager Chitambo Abigail Chonda said this yesterday before Lusaka Magistrate Alice Walusiku when she testified in a case three Marshlands Consortium directors are facing 15 counts of forgery, obtaining money by false pretenses, theft, and uttering false documents, among them Ultimate Insurance Company Limited shareholder resolutions.
In this case the accused persons are Tobias Milambo, Nachi Musonda, and Richard Lubemba. It is alleged in one of the counts that they forged documents purporting to show that they had been appointed as directors in Ultimate Insurance when in fact not.
It is also alleged that between the same dates, Milambo, Musonda, Lubemba, and Marshlands Consortium Limited obtained goods by false pretences and stole over US$41, 000 belonging to Ultimate Insurance.
Ms. Chonda said the instruction that the bank acted on to transfer the money was signed by Lubemba.
She said the instruction indicated that the money was meant for payment for legal services that Nchito & Nchito Associates had provided.
Ms. Chonda said on October 4, 2019 the bank received instruction from Ultimate and that it was Lubemba who took it there.
She said the transfer was effected as instructed and the US$26.160.38 was sent to Nchito & Nchito Advocates after the bank confirmed Lubemba’s signature.
After Ms. Chonda’s evidence, the prosecution applied for an adjournment because the next witness was not before court as he was reported to be unwell and Ms. Walusiku adjourned the matter to September 9, 2021 for continued trial.
At the last sitting, Lusaka businessman Chanda Katotobwe testified that he bought Ultimate Insurance for his wife Felicitas Chibamba Kabwe but the Pensions and Insurance Authority (PIA) facilitated irregular acquisition of shares in the company by the accused persons after they presented forged documents to the PIA.
Mr. Katotobwe, 52, who is also proprietor of Tomorrow Investments Limited, said this was after Milambo, Musonda, and Lubemba had approached him to setup a joint insurance company, which led him to buy the entire Ultimate Insurance at K1.5 million.
He said the accused persons irregularly acquired the shares in the company when he was away nursing his wife in South Africa and the United States for a knee problem.
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