The High Court of Malawi has dismissed applications by former Reserve Bank of Malawi (RBM) governor Dalitso Kabambe and former deputy governor Henry Mathanga to permanently suspend proceedings in their data misreporting case.
Presiding Judge Redson Kapindu said he found the applications by the duo for immunity to be without merit.
“In the premises, the applications for permanent stay of criminal proceedings herein fail and they are hereby dismissed,” said the judge.
The duo, among others, is accused of conspiring with two others to expend public funds amounting to $350 million without Parliament authorisation.
In the applicationation, Kabambe and Mathanga argued that they were immune to prosecution under the Reserve Bank of Malawi Act.
Apart from the charge of conspiracy, the accused are also answering a charge of making misleading statements.
Kabambe, Mathanga and d former minister of Finance Joseph Mwanamvekha are alleged to have knowingly omitted material information from RBM annual reports and submissions to the International Monetary Fund (IMF), in the process concealing from the IMF the existence of a $350 million facility that was obtained from the African Export and Import Bank (the Afrexim Bank).
Further, the trio and former secretary to Treasury Cliff Chiunda are also facing a charge of money laundering for allegedly possessing and dealing with public funds knowing that the said funds were derive from an unlawful source.
