By Desmond Kaunda & William Maclaud
An investigation on corrupt companies owned by business tycoon, Zuneth Sattar is impending following the any time sooner jetting in of the United Kingdom (UK) based investigative adepts, the HMRC department.
Malawi Freedom Network (MFN) understands that, the Government of Malawi (GoM) has received communication about the coming in of the corruption detecting giants.
The imminent corruption busting tour, which also extends to Zuneth Sattar’s companies in South Africa, Hong Kong, Dubai and of course in the UK, will dwell on zooming in investigations that, the tycoon’s companies, are involved in Tax Evasion, Money Laundering, Terrorism funding and also that, the tycoon is walking in the shadows of Corrupt Charges.
In the first part of the investigations, the experts will look closely on the award of tender by UK’s Xaviar Limited to supply the Malawi Police Services (MPS) food packs numbering to 250,000 worth a whooping US $5,750,000.00.
It is believed, these packs, were bought and packed in South Africa at a total cost of $1,087,000.00 thus delivery to Malawi inclusive.
However, Xaviar Limited owned by Zuneth Sattar is said to have used his ‘offshore tax free’ company in Dubai, the ‘Malachite FZE’ cash-gate linked company, also owned by Zuneth Sattar, to inflate purchase prices to $20.00 per foodpack ($5,000,000.00 for 250,000 packs) from the real price of $4.35 ($1,087,000) to his official company, Xaviar Limited in the UK in order to evade the tax on large profits in the UK and in so doing, declaring only $750,000.00 profits.
This meant that tax was $750,000 rather than the real profits of $4,663,000.00.
On tax evasion, following the money from Malachite FZE Dubai, part of the investigations reveal that, these funds, have since been sent back to Malawi in the form of United States Dollars and part of the funds have been channeled to other personal accounts within Dubai.
In the third part of the investigation, under the Top Prima Hong Kong, Rummage Pace Hong Kong, Arizona General Trading Dubai, Malachite FZE Dubai, Xelite Stripes Malawi, Krish Trading Limited Malawi goes investigations concerning undeclared wealth, under the “UK section UWO undeclared Wealth Order 2017”.
Following the Baker Tilly cash-gate report, it is evident that, the above companies owned by Zuneth Sattar were part of the $70 Million Government funds plunder.
Under the new law of UWO, an investigation will be carried out with information gathered from Malawi, UK, Hong Kong, Dubai and South Africa to follow and track where the $70 Million has been hidden in offshore accounts and companies through illegal money laundering activities such as terrorism.
In the fourth part, Global Research on Property owned by Zuneth Sattar or any companies linked to Zuneth Sattar under 2017 Act, sources of funds and explanation owned by Zuneth Sattar.
However, Government Spokesperson, Henry Mussa said he has seen about the impending investigation through the media and asked more time to cross check notes on the coming in of the experts.