Thu, 13 Sep 2012 04:36:07 +0000 The Nchito brothers and Fred M’membe have disputed the US $4million debt claimed by Finance Bank and have now demanded fro better particulars to enable them respond to the claim that has been logged in the Lusaka High Court. Finance Bank is demanding $4 Million from Fred Mmembe, editor of the Post Newspaper, and Mutembio Nchito Director o Public Prosecution (DPP) and Nchima Nchito, a Lusaka Lawyer, which money the bank claims was obtained by fraudulent misrepresentation. The matter comes up today before Judge Nigel Mutuna. The three were directors of defunct Zambian Airways and are now being held personally liable for the money because they fraudulently, obtained the money when they knew that the company had no ability to pay back. This is an offence under the Companies Act. In a statement of claim before the court Finance Bank, then represented by Sunday Nkonde noted that Mutembo Nchito […]
