{"id":8792,"date":"2012-04-13T05:48:18","date_gmt":"2012-04-13T05:48:18","guid":{"rendered":"http:\/\/www.faceofmalawi.com\/?p=8792"},"modified":"2012-04-13T05:48:18","modified_gmt":"2012-04-13T05:48:18","slug":"late-pres-bingu-mutharikas-wealth-part-1","status":"publish","type":"post","link":"https:\/\/new.faceofmalawi.com\/index.php\/2012\/04\/13\/late-pres-bingu-mutharikas-wealth-part-1\/","title":{"rendered":"Late Pres. Bingu Mutharika’s wealth – Part 1"},"content":{"rendered":"

\"\"<\/a>(A) What hugely profitable beneficial trusts does Mutharika have (as
\nallowed him by Section 88(4)) that have allowed him to accumulate such immense wealth to afford
\nhim the following?<\/p>\n

a) Build a K14B Ndata house
\nb) Acquire a $18m Presidential villa and yatch in
\nPortugal
\nc) A lavish expenditure of K200M on his 78th
\nbirthday<\/p>\n

d) Acquisition of a $60m hotel in Portugal through
\nthe Reserve Bank of Malawi (RBM)<\/p>\n

e) Extending a K400M loan to Mulli Brothers Ltd to
\npurchase Bestobell through Malawi Savings Bank
\n(MSB) at Ginnery Corner in Blantyre<\/p>\n

f) Purchase of a K300M Lonhro house in Limbe<\/p>\n

g) To act as surety to Mulli Brothers Ltd\u2019s overdraft
\nfacilities with MSB (K5B), NBM (K2.5B), NBS (K2B),
\nFirst Merchant Bank (K1.2B) and Stanbic Bank
\n(K0.8B)<\/p>\n

h) Money for building a K1.8B mausoleum for his
\nlate wife, Ethel<\/p>\n

i) Acquisition of K20B worth of shares in Zimbabwe
\nCommercial Bank<\/p>\n

j) Purchase of a personal K65M Maybach Benz (sent
\nto his farm in Zimbabwe)<\/p>\n

k) Purchase 150 Toyota pick-ups for his party DPP
\nvalued at K400M<\/p>\n

l) A lavish expenditure of K350M on his April 2010
\nfirst wedding anniversary to Callista<\/p>\n

m) A K7.8B IndeBank joint account with President
\nRobert Mugabe<\/p>\n

n) Purchase a K38M house in Nyambadwe on
\nAugust 24, 2010 (from Shanil Muluzi)<\/p>\n

o) K100M February 2010 valentine celebrations<\/p>\n

(B) Mutharika would be in a better position to
\nEducate the Malawi Nation on how the below listed
\nunlawful transactions have helped advance the
\nrequirements of Prudent Economic Management<\/p>\n

(as per Section 13(n) of the Constitution) and
\nSustained Public Trust and Good Governance (as
\nper Section 13(o) of the Constitution):<\/p>\n

a) Mutharika draws K50M from Malawi Savings
\nBank every two weeks for his personal use<\/p>\n

b) Mutharika got K200M from Reserve Bank of
\nMalawi to buy maize for Robert Mugabe\u2019s
\nZimbabwe<\/p>\n

c) Mutharika instructed the sale of the old
\npresidential jet without the approval of the National
\nAssembly<\/p>\n

d) Mutharika instructed MRA to surrender 10% of
\nMRA\u2019s revenue to DPP 2014 Campaign<\/p>\n

e) Mutharika instructed ESCOM to give Mulli
\nBrothers Ltd K160M to buy Chitakale Estate<\/p>\n

f) Mutharika has allowed the Chinese nationals in
\nthe country to externalize forex without undue
\nrestrictions<\/p>\n

g) Mutharika instructed the transfer of K5B from
\nTreasury to Masangwi\u2019s shipping company<\/p>\n

h) Mutharika instructed Press Trust and National
\nBank of Malawi to deposit to his personal account
\nK70M every month<\/p>\n

i) Mutharika instructed government to send 8
\nvehicles and 4 tractors (that Malawi government
\nreceived fro the government of Libya) to his farm in
\nZimbabwe<\/p>\n

j) Mutharika instructed the Reserve Bank of Malawi
\nto lend the government of Zimbabwe $30m at a
\ntime Malawi was experiencing an acute shortage of
\nforex<\/p>\n

k) Mutharika instructed Treasury to deposit K60M
\nto Malawi Savings Bank to be used towards wooing
\nand silencing NGOs<\/p>\n

l) Mutharika fraudulently pocketed K1.6B through
\nhis FBM account from money meant for preparation
\nfor 2009 general elections<\/p>\n

m) Mutharika draws K20M allowance each time he
\nmakes an internal trip (or on \u2018government project\u2019
\ntours)<\/p>\n

n) Mutharika instructed the Reserve Bank of Malawi
\nto extend to his wife Callista a loan of K160M<\/p>\n

o) Mutharika instructed government to give his wife
\nCallista a K2M allowance each time she travels away
\nfrom station<\/p>\n

p) Mutharika instructed the Governor of the
\nReserve Bank of Malawi to transfer $6m to his
\nZimbabwe account<\/p>\n

q) Mutharika fraudulently benefited to the tune of
\nK3.8B from MTL Privatization proceeds<\/p>\n

r) Mutharika diverted $8m given to the
\ngovernment of Malawi by the government of
\nTaiwan for the Army and Police Marine at Monkey-
\nbay<\/p>\n

s) Mutharika diverted a $50m loan from Taiwan
\nauthorized by the National Assemblyfor the
\nconstruction of the National Assembly<\/p>\n

t) Mutharika instructed government topping of
\nK10M over every Safe Motherhood function<\/p>\n

u) Mutharika set the salary for his wife Callista at
\nK1.3M per month for doing charity work which
\npreviously was not salaried work<\/p>\n

Section 13(o) of the Constitution requires the
\nPresident to put in place effective measures which
\nwill \u2018guarantee accountability, transparency,
\npersonal integrity and financial probity\u2019 to
\nstrengthen and ensure sustained Public Faith &
\nTrust and Good Economic Governance. There is
\nample evidence of financial malpractice by
\nPresident where existing financial control
\ninstruments and systems were deliberately
\nthwarted and frustrated.<\/p>\n

(C) Mutharika would, again, be in a better position
\nto Educate the Malawi Nation on how the below
\nlisted corrupt decisions have helped to subordinate
\nhis self-interests to the interests of the people of
\nMalawi in the running of the affairs of the nation (as
\nper Section 88(5) of the Constitution)<\/p>\n

a) Mutharika accepted the selling of Chikangawa
\nForest to Mulli Brothers Ltd<\/p>\n

b) Paladin Mining Company is depositing $5m every
\nquarter to Mutharika\u2019s Australia account<\/p>\n

c) Mota-Engil is giving Mutharika 50% of all
\ncontract proceeds through his Portugal account<\/p>\n

d) Mutharika accepted the award of a K6B
\ngovernment stationary supply contract to Mulli
\nBrothers Ltd (without tender )<\/p>\n

e) Mutharika accepted the award of a K4B
\ngovernment fertilizer subsidy supply contract to
\nMulli Brothers Ltd (without tender)<\/p>\n

f) Mutharika accepted the award of an K11B
\ngovernment petrol & diesel supply-by-tanker
\ncontract to Mulli Brothers Ltd (without tender)<\/p>\n

g) Mutharika accepted the award of a K200M
\nsupply of foods-to-prisons contract in Malawi to
\nMulli Brothers Ltd (without tender)<\/p>\n

h) Mutharika instructed the Governor of the
\nReserve Bank of Malawi to offer Mulli Brothers Ltd a
\n$8m loan on February 24, 2011
\nSection 88(5) of the Constitution forbids the
\nPresident from using his office for personal gain or
\nplacing himself in situations where his material
\ninterests conflict with the responsibilities and duties
\nof his office. The onus is on the President to assure
\nthe nation his actions are above suspicion and
\ninnocent<\/p>\n","protected":false},"excerpt":{"rendered":"

(A) What hugely profitable beneficial trusts does Mutharika have (as allowed him by Section 88(4)) that have allowed him to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[207],"tags":[525,1034,258],"class_list":["post-8792","post","type-post","status-publish","format-standard","hentry","category-business-2","tag-bingu","tag-mutharika","tag-malawi"],"_links":{"self":[{"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/posts\/8792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/comments?post=8792"}],"version-history":[{"count":0,"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/posts\/8792\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/media?parent=8792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/categories?post=8792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.faceofmalawi.com\/index.php\/wp-json\/wp\/v2\/tags?post=8792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}