The High Court Commercial Division has ordered that Alliance Capital Limited in which people invested and lost Billions of Kwachas (K60 Billion) should be liquidated.

Several Government Entities have lost hundreds of Millions of Kwachas and the Managers, Christian Majavinq and Directors Tom Daniel, Dean Lungu and Kassam Okhai of Alliance Capital have allegedly run away to South Africa and USA and India.

According to the court file, Some of the government entities that invested and have lost Money are listed below:

Malawi Police SACCO K1 Billion

Macra K500 Million

Mera K500 Million

MRA K 1 Billion

Export Fund K 7 Billion

MEC K800 Million

Gaming Board K800 Million

Water Board K600 Million

Musco K 500 Million

Malawi Agricultural and Industrial development K 2 Billion

Admarc K800 Million

Malawi Blood Transfusion K200 Million

Protea Hotel Ryalls K150 Million

Malawi Council of Sports K500 Million

Some notable private companies and individuals who have also lost money include:

Nico Asset Managers K 3 Billion

Zamara Pension Fund K2 Billion

Open Connect K 2 Billion

Britam K500 Million

Reunion K500 Million

Jimmy Korea Mpatsa K2 Billion

Zondiwe Mbano K500 Million

 Nseula Family K200 Million

Kahumbe Family K500 Million

Blantyre District Commissioner Bennnet Nkasala K50 Million

Vanguard Insurance K250 Million

UGI Insurance K70 Million

Louis Ulaya Lawyer K10 Million

Amped Courier K60 Million

Dr. Makadia Dentist K200 Million

There are hundreds other individuals that have lost life savings and companies and SACCO that have lost money.

The money was borrowed by Mike Chilewe Jnr K500 Million, Transglobe K5 Billion, Stansfield Motors K 5 Billion etc. They all did not pay back even 1 Tambala.

The post <strong>High Court orders liquidation of Alliance Capital Limited: Billions of Malawi kwacha lost, stolen</strong> appeared first on Malawi Voice.