Man arrested for stealing over K5 million from Concern Universal Micro Finance

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Police in Ntchisi have arrested a 33 year -old man, Frank Kapesi for allegedly stealing money amounting to K5,324,150.00 from United Purpose formerly known as Concern Universal Micro Finance Organisation (CUMO).

Kapesi was employed as a Financial Service Officer. His arrested came after officials from his company discovered that over K5 million was missing.

It is alleged that, Kapesi failed to manage September loan payments and officials ordered him to bring receipts from eight groups which he failed to produce.

Company officials gave Kapesi two weeks to account for the missing money but he failed to give the required details.

Police investigation indicates that, Kapesi used the money on personal gains. He has been charged with theft by servant, and he will appear before court soon.

Frank Kapesi comes from Kapesi village, traditional authority Kachere in Dedza District.

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Robert Ngwira
Attended Our Future Private Secondary School in Rumphi from 2006-2009 Holder of Diploma in Journalism from Malawi Institute of Journalism (MIJ) Hobbies, reading newspapers, going out with friends, listening to radio and watching football. Email: info@faceofmalawi.com

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