The liquidation of Zambia's Konkola Copper Mines (KCM) will continue after the high-profile arrest of the provisional liquidator appointed by former president Edgar Chagwa Lungu.
Milingo Lungu, the lawyer appointed to run Zambia's biggest integrated copper producer, has been arrested and charged with money laundering, according to a statement from the Zambian government on Wednesday September 29."The allegations are that Mr Lungu, jointly acting with other persons between May 22, 2019, and August 15, 2021... did engage in theft involving 110.4 million kwacha and US$250,000. He obtained money by false pretenses, amounting to US$2.2 million, and he has also been charged for money laundering on the same amount. The money is said to have come to his possession by virtue of him being the provisional liquidator of Konkola Copper Mines," Drug Enforcement Commission public relations officer Mathias...