By Staff Reporter
From rags to riches.This description fits the fallen third President of the republic of Malawi Bingu Wa Mutharika.Bingu became an overnight billionaire in his stint stint in power raising eyebrows on how he got the wealth
According the Nation newspaper,Bingu’s wealth was valued at MK150 million when he as assumed power in 2004,but his forfune suged to MK61 billion the time of his death in 2012 raisimg some eye blows to how he acquired the fortune.The delopment prompted some people to raise the flag to ACB to conductive investigations on the matter.
Nine years later,time spanning from 2022 to 2022 no probe has been done by the graft body
According to the reports by the Nation newspaper,the ACB reported in 2019 that the investigations on the matter stalled because of the missing information the body obtained from Bingu’s offshore accounts on the matter
“However,our investigation shows that the ACB probe stalled after the graft busting body announced in 2019 that the information it obtained from Bingu’s offshore bank account in Jersey Island went missing.”
Wrote the Nation:According the information from Standard Bank Jersey Limited ,Bingu opened a joint Optimum Account number 58099848 with his daughter Duwa Mutharika Mubaira.The reports alleged that the former Bingu stashed cashi in foreign countries including the Jersey Island.Bingu was also rumoured to have properties in the United States of America,the United Kingdom (UK) and Zimbabwe
While acknowldging the receipt of information from the ACB,Director of Public Prosecution Steve Kayuni said he is yet receive a request from the ACB to write the Jersey Island to release the details on the matter
“There has not been official communication from ACB that the information is missing.This is unfortunate.We hope that it will be sorted ou..Normally,Malawi has to re-process the request for authorities of New Jersey Bank to release the details.”Said Kayuni
The controversial former head of state died suddenly in April 2012 from cardiac arrest.He left when the broken economy resuilting from the scarcity of forex and shortage of fuel.
