Ex-PTC employees get 7 years for K100m theft
The Blantyre Principal Resident Magistrate’s Court has sentenced two former Peoples Trading Centre (PTC) employees and a businessperson to seven and a half years and six and a half years imprisonment respectively, for stealing about K100 million from the company.
Principal resident magistrate Innocent Nebi jailed Richard Kamunga, who was working as chief accountant and Clement Michongwe, a disbursement superviser and businessperson Mc Hellings Kayala in absentia as he is on the run.
Nebi, who is now assistant registrar at the Industrial Relations Court, started hearing the case in 2013 and only sentenced the trio last Tuesday.
He said about K102 million was lost in the fraud and no recovery was made and accused Kamunga and Michongwe for breaching their employer’s trust t.
Reacting to the conviction and sentences, PTC marketing and communications manager Chiku Kaphuka welcomed the court judgement.
“This will serve as a warning to others that the long arm of the law will catch you,” she said.
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