Former Salima Sugar Company Limited chairperson Shirieesh Betgiri has been arrested as police investigations into the alleged mismanagement of about K51 billion at the sugar company gather pace.
National Police spokesperson Peter Kalaya confirmed that Betgiri was arrested on Wednesday and will face a number of criminal charges.
Police have also obtained arrest warrants for Prashant Sharma, Vikas Hirawatt, Sachin Nikam and former Greenbelt Authority chief Henri Njoloma, who are believed to be outside Malawi.
Kalaya said the suspects are expected to answer charges including uttering false documents, forgery, cheating, conspiracy to defraud and money laundering.
The arrests follow revelations from a forensic audit which uncovered the alleged misappropriation of more than US$30 million, equivalent to about K51 billion, at Salima Sugar.
Earlier this month, Attorney General Thabo Chakaka Nyirenda told journalists that the audit had exposed serious financial irregularities and questionable corporate dealings at the company.
Among the findings, Chakaka said senior officials allegedly registered a company bearing the name Salima Sugar Company Limited in Dubai without the knowledge of the Malawi Government.
A bank account was also allegedly opened in Dubai under the company’s name.
The forensic investigation further found that three accounts were opened with FDH Bank, First Capital Bank and MyBucks without
