The Malawi Police Service (MPS) have arrested four people for allegedly conspired and stole K20 billion at Malawi Leaf Company Limited a subsidiary of Auction Holdings (AHL).
Three out of the four are officials form AHL and the other one is a business man, according to James Kadadzera, National Police Spokesperson.
The statement also revealed that the theft is believed to have occurred between 2012 and 2017 at Kanengo in the capital in the Lilongwe.
The suspects are former General Manager of Malawi Leaf Company Jimmy Kasamale, Former Financial Controller Francis Madona, Former Executive Officer Evans Rodney Douglas Matabwa and businessman Arthur Madikhula.
The suspects will answer charges of theft, forgery and uttering of official documents, conspiracy, abuse of office, fraud other than pretenses, negligence and money laundering.
Meanwhile, the suspects are being held at Lilongwe police waiting for prosecution.
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