Looting and plunder costs Admarc billions of kwachas
Former ADMARC Board Chairperson Alexander Kusamba Dzonzi says the plunder and loot at the state run produce company could run in billions of kwachas.
He has proposed a complete forensic Audit to establish how much has been lost through fraud at the grain trader, ADMARC.
Kusamba Dzonzi said this on Thursday when he appeared before a special parliamentary committee in Lilongwe.
According to an Audit done by Graham Carr, covering year 2020 to 2022 ADMARC has lost K330 million through the vehicle and medical insurance fraud.
But Dzonzi feels the money lost has to be more and even in billions if a complete audit is carried out from 2002 to now.
The audit report exposed that K39.5 million was paid for insurance for personal vehicles belonging to ADMARC employees and this money is yet to be recovered.
ADMARC also paid K39 million for 12 personal cars belonging to Mr Gerald Ganizani who owns a car hire, K808,915 insurance for non ADMARC Staff and K18.8million for non runner vehicles.
The report also reveals that, K15.8 million was paid to MASM for medical cover for undeserving individuals.
“ADMARC paid K1.5 million for Staff who are deceased, paid K6.7 million for Staff who left ADMARC and the Corporation paid K7.5 million for non-staff. It was free for all. Taxes paying medical cover and insuring cars for someone’s girlfriend, very pathetic,” said Dzonzi.
