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 2010-05-29 04:50 pm Back to NEWS
Katele, others granted K500m bail
Former finance minister Katele Kalumba, former finance permanent secretary Stella Chibanda & defunct Access Financial Services director Faustin Kabwe being led to a police van after they were jailed, 26.05.2010 The Post

Former Finance Minister Katele Kalumba and three others have been granted a K500 million bail in their own recognisance while pending appeal in the High Court.

High Court deputy director of court operations, Edward Musona, sitting as magistrate granted Katele and former Ministry of Finance permanent secretary Stella Chibanda, Access Financial Service (AFS) directors Faustin Kabwe and Aaron Chungu the bail when the matter came for bail hearing in chambers yesterday.

Kalumba, Chibanda, Kabwe and Chungu were on Wednesday each convicted and sentenced to five years imprisonment on various corrupt charges.

Chibanda's lawyer, Nicholas Chanda told journalists that Mr Musona said the convicts should produce two working sureties each and placed K500 million in the sureties' own recognisance.

Mr Chanda said the magistrate also ordered the quartet to surrender their passports to the senior clerk of courts.

This was in a case in which Kalumba was jointly charged with Chibanda, former director of budget Boniface Nonde and former chief economist, Bede Mpande.

Others were former secretary to the treasury, Benjamin Mweene and AFS directors, Chungu and Kabwe.

The seven were facing 21 counts of theft by public servant contrary to section 29 (1) of the Anti-Corruption Commission (ACC) Act as read with section 41 of Act number 42 0f 1996.

In the same case Mr Musona sentenced Mpande, Nonde and Mweene to five years imprisonment each but suspended for 24 months.


Times of Zambia

 
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