Senior resident magistrate Florence Msekandiana has granted bail to businessperson Shafee Ahmed Chunara.

Chunara was arrested on Monday in connection with the importation of Cement worth K5 billion (about $7 million) duty free using former president Peter Mutharika’s tax-free status.

The court has since charged him with two counts of Fraud and Money Laundering.

He has been given a K10 million bail bond and on condition that he surrenders two sureties worth K50 million each.

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