Fri, 12 May 2017 13:00:23 +0000
By MAILESI BANDA
A TOTAL of K814, 274.45 could be forfeited to the State if the people that invested in the Ikulile project in Eastern Province do not come forward to claim their money.
The Drug Enforcement Commission (DEC) seized properties connected to the Ikulile Initiative Enterprise which scammed hundreds of thousands of kwacha from unsuspecting clients who bought into the scheme.
The Ikulile Initiative Enterprise was a construction advisory services entity established to offer housing empowerment to civil servants and ordinary Zambians through architectural and civil engineering support.
In a notice of disposal of seized properties published in the media, the commission has listed properties including motor vehicles, furniture, electronics and money held in various bank accounts.
The commission has reported that K900.44 was being held in the Isungile Payment Solutions account with Intermarket Bank while K69, 321.78 was in the Zambia Institute of Business Enterprise account with Zanaco and K2, 302.43 was in the Zambia Institute of Business Enterprise account with FNB bank and K546.39 was also being held in the same bank.
Ikulile Initiative in 2015 advertised itself as an advisory services that would create a housing estate and solicited money from citizens who bought into the idea.
In October 2015, Dangote Industries publicly disassociated itself from the housing advisory which had purported to be in partnership with the cement company, when in fact not.
Atleast K199, 960.00 is being held in the UBA Bank while there are two individual accounts under the name Abraham Hezborn Chintu with K11, 716.28 in AB Bank and K19,509.60 with UBA Bank
Among the accounts frozen was an investment with Focus Capital Insurance of K60,000 and another K60, 000 with Isungile Payment Solutions
In 2016, the Zambia Police Service instituted investigations against Ikulile Initiative Enterprises for allegedly swindling people out of huge sums of money.
