The Director of Public Prosecutions (DPP) has urged the Economic and Financial Crimes Court (EFCC) to order the forfeiture of assets belonging to Kamono Farm Initiatives Limited, for being allegedly tainted by financial crimes.
An affidavit filed by Given Sakala, a senior investigations officer with the Anti-Money Laundering Investigations Unit (AMLIU) stated that investigations into Kamono began in April 2022 following reports of suspicious transactions.
The company allegedly solicited deposits from the public by promoting farming investment opportunities, promising guaranteed returns.
However, financial records suggested that client funds were misclassified as sales and profits, while no significant revenue was generated from actual farming operations.
Kamono claimed to operate across seven leased farms in various districts, but inspections in mid-2022 revealed limited agricultural activity.
Only three farms showed signs of production, and even then, the crops were poorly managed.
For instance, Chipeta Farm in Mkushi had small plots of chili and garlic, much of it scorched by the sun, while Kabayi Farm had a portion of sugar beans under proper care.
Alarmingly, Kamono Farms continued to collect payments for non-existent ventures, such as chicken rearing.
During searches, law enforcement seized 320 pigs and 414 chickens, though many of the animals later died due to malnutrition and disease.
The surviving livestock was sold at auction, raising K299,100. Additional seizures included 17 pigs, 138 goats, and 24 sheep from a Choma farm, generating K18,372 at auction.
Seven vehicles, including a Massey Ferguson tractor, were also confiscated.
Sakala’s investigation uncovered significant sums in various bank accounts linked to Kamono and its associates.
The accounts include Zanaco with K15,326,475.26; UBA containing K995,525.72; SPENN Account holding K1,214,352.50 and Fanwell Zulu’s accounts holding millions of kwacha.
These funds, allegedly being proceeds of crime, were seized along with cash discovered in Kamono’s offices totaling K771,046.
The affidavit argues that Kamonos’ operations violated Sections 6 and 157 of the Banking and Financial Services Act No. 7 of 2017, as well as Section 71 of the Forfeiture of Proceeds of Crime Act No. 19 of 2010.
The DPP asserts that the assets, which were acquired through fraudulent means, should be forfeited to the state.
In a related development, the National Prosecution Authority successfully secured convictions against Kamono Farming Initiatives Limited and its directors for operating an unlicensed banking business and conducting a money circulation scheme.
The Lusaka Magistrates’ fined the company K100,000 on one count and K70,000 on another, while the individual defendants were fined K60,000 per count.
