Late Pres. Bingu Mutharika’s wealth – Part 1


(A) What hugely profitable beneficial trusts does Mutharika have (as
allowed him by Section 88(4)) that have allowed him to accumulate such immense wealth to afford
him the following?

a) Build a K14B Ndata house
b) Acquire a $18m Presidential villa and yatch in
c) A lavish expenditure of K200M on his 78th

d) Acquisition of a $60m hotel in Portugal through
the Reserve Bank of Malawi (RBM)

e) Extending a K400M loan to Mulli Brothers Ltd to
purchase Bestobell through Malawi Savings Bank
(MSB) at Ginnery Corner in Blantyre

f) Purchase of a K300M Lonhro house in Limbe

g) To act as surety to Mulli Brothers Ltd’s overdraft
facilities with MSB (K5B), NBM (K2.5B), NBS (K2B),
First Merchant Bank (K1.2B) and Stanbic Bank

h) Money for building a K1.8B mausoleum for his
late wife, Ethel

i) Acquisition of K20B worth of shares in Zimbabwe
Commercial Bank

j) Purchase of a personal K65M Maybach Benz (sent
to his farm in Zimbabwe)

k) Purchase 150 Toyota pick-ups for his party DPP
valued at K400M

l) A lavish expenditure of K350M on his April 2010
first wedding anniversary to Callista

m) A K7.8B IndeBank joint account with President
Robert Mugabe

n) Purchase a K38M house in Nyambadwe on
August 24, 2010 (from Shanil Muluzi)

o) K100M February 2010 valentine celebrations

(B) Mutharika would be in a better position to
Educate the Malawi Nation on how the below listed
unlawful transactions have helped advance the
requirements of Prudent Economic Management

(as per Section 13(n) of the Constitution) and
Sustained Public Trust and Good Governance (as
per Section 13(o) of the Constitution):

a) Mutharika draws K50M from Malawi Savings
Bank every two weeks for his personal use

b) Mutharika got K200M from Reserve Bank of
Malawi to buy maize for Robert Mugabe’s

c) Mutharika instructed the sale of the old
presidential jet without the approval of the National

d) Mutharika instructed MRA to surrender 10% of
MRA’s revenue to DPP 2014 Campaign

e) Mutharika instructed ESCOM to give Mulli
Brothers Ltd K160M to buy Chitakale Estate

f) Mutharika has allowed the Chinese nationals in
the country to externalize forex without undue

g) Mutharika instructed the transfer of K5B from
Treasury to Masangwi’s shipping company

h) Mutharika instructed Press Trust and National
Bank of Malawi to deposit to his personal account
K70M every month

i) Mutharika instructed government to send 8
vehicles and 4 tractors (that Malawi government
received fro the government of Libya) to his farm in

j) Mutharika instructed the Reserve Bank of Malawi
to lend the government of Zimbabwe $30m at a
time Malawi was experiencing an acute shortage of

k) Mutharika instructed Treasury to deposit K60M
to Malawi Savings Bank to be used towards wooing
and silencing NGOs

l) Mutharika fraudulently pocketed K1.6B through
his FBM account from money meant for preparation
for 2009 general elections

m) Mutharika draws K20M allowance each time he
makes an internal trip (or on ‘government project’

n) Mutharika instructed the Reserve Bank of Malawi
to extend to his wife Callista a loan of K160M

o) Mutharika instructed government to give his wife
Callista a K2M allowance each time she travels away
from station

p) Mutharika instructed the Governor of the
Reserve Bank of Malawi to transfer $6m to his
Zimbabwe account

q) Mutharika fraudulently benefited to the tune of
K3.8B from MTL Privatization proceeds

r) Mutharika diverted $8m given to the
government of Malawi by the government of
Taiwan for the Army and Police Marine at Monkey-

s) Mutharika diverted a $50m loan from Taiwan
authorized by the National Assemblyfor the
construction of the National Assembly

t) Mutharika instructed government topping of
K10M over every Safe Motherhood function

u) Mutharika set the salary for his wife Callista at
K1.3M per month for doing charity work which
previously was not salaried work

Section 13(o) of the Constitution requires the
President to put in place effective measures which
will ‘guarantee accountability, transparency,
personal integrity and financial probity’ to
strengthen and ensure sustained Public Faith &
Trust and Good Economic Governance. There is
ample evidence of financial malpractice by
President where existing financial control
instruments and systems were deliberately
thwarted and frustrated.

(C) Mutharika would, again, be in a better position
to Educate the Malawi Nation on how the below
listed corrupt decisions have helped to subordinate
his self-interests to the interests of the people of
Malawi in the running of the affairs of the nation (as
per Section 88(5) of the Constitution)

a) Mutharika accepted the selling of Chikangawa
Forest to Mulli Brothers Ltd

b) Paladin Mining Company is depositing $5m every
quarter to Mutharika’s Australia account

c) Mota-Engil is giving Mutharika 50% of all
contract proceeds through his Portugal account

d) Mutharika accepted the award of a K6B
government stationary supply contract to Mulli
Brothers Ltd (without tender )

e) Mutharika accepted the award of a K4B
government fertilizer subsidy supply contract to
Mulli Brothers Ltd (without tender)

f) Mutharika accepted the award of an K11B
government petrol & diesel supply-by-tanker
contract to Mulli Brothers Ltd (without tender)

g) Mutharika accepted the award of a K200M
supply of foods-to-prisons contract in Malawi to
Mulli Brothers Ltd (without tender)

h) Mutharika instructed the Governor of the
Reserve Bank of Malawi to offer Mulli Brothers Ltd a
$8m loan on February 24, 2011
Section 88(5) of the Constitution forbids the
President from using his office for personal gain or
placing himself in situations where his material
interests conflict with the responsibilities and duties
of his office. The onus is on the President to assure
the nation his actions are above suspicion and

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