FORMER PRESIDENT EDGAR LUNGU’S SON DEFENDS ASSETS IN ECONOMIC AND FINANCIAL CRIMES COURT>>>CONTINUE FULL READING HERE

dalitso lungu claims automobiles and properties have been items from his father and legally acquired

LUSAKA, ZAMBIA, July 25 – In a high-profile case on the Financial and Monetary Crimes Courtroom, Dalitso Lungu, son of former President Edgar Lungu, has testified that almost all of the automobiles and properties topic to forfeiture proceedings have been bought for him by his father. Dalitso acknowledged that these belongings have been legally acquired and usually are not proceeds of crime.

Dalitso revealed that his father gifted him a filling station, which has been leased to Complete Energies for US$8,000 per 30 days since 2018. He emphasised that the filling station, together with different properties, belongs to Saloid Merchants Restricted, a household enterprise primarily financed by his father.>>>CONTINUE FULL READING HERE

The Director of Public Prosecutions has sought to have over 80 automobiles and properties belonging to Dalitso and his firm forfeited to the State, citing “unexplained wealth” amounting to about K31 million. The State’s submission highlighted that Dalitso owns 16 properties and 21 automobiles registered underneath his identify, with some automobiles discovered parked at Ndozo Lodge and others deserted in Siavonga.

In his affidavit opposing the forfeiture discover, Dalitso detailed the acquisition of a number of automobiles, all registered underneath Saloid Merchants Restricted however bought by his father. These included a Toyota Land Cruiser, Toyota Prado, Nissan NP300s, and Mitsubishi Pajeros. He additionally talked about that three Shacman Tipper vans and one trailer have been purchased by Saloid Merchants Restricted on a credit score sale settlement.

Dalitso contested the State’s valuation of his belongings, arguing that the reported values don’t replicate the precise buy costs. He confused that the properties and automobiles have been acquired legally and usually are not proceeds of crime.

The court docket heard that Dalitso’s formal employment was not his solely supply of earnings, as he had been financially supported by his mother and father since childhood. He additionally acknowledged that the seizure of his automobiles had disrupted the enterprise operations of Saloid Merchants Restricted, stopping the corporate from fulfilling its cost obligations.

Dalitso additionally addressed the Director of Public Prosecutions’ directive for Complete Energies to deposit rental funds into the Nationwide Prosecution Authority’s forfeiture account, claiming the DPP had no authorized authority to redirect these funds.>>>CONTINUE FULL READING HERE