Austin Liato to tell why he ‘planted’ K2.1b at his farm

Posted: November 29, 2011 in News
Tags: , , ,

Former labour minister, Liato to appear before investigators. PHOTO: ukzambians.co.uk

Hong Kong, Oct. 28 – A Zambian ex-minister who buried 2.1 billion Zambian Kwacha (approx. 420 million US Dollars) at his farm in two metal safes is to turn himself before investigators Tuesday.

Austin Liato – a former minister of labour – has not commented or reported the money missing since it was dug-out from an electrified underground bunker last week Thursday.

A crack taskforce investigating allegation of mismanagement and plunder of public resources during past president Rupiah Banda’s three year reign is expected to formally arrest and charge Liato once he turns himself in.

Investigators are yet to establish the source of the money or why it was buried and concealed under thick layers of concrete.

Zambian leader, Michael Sata described the way the money was hidden as “mafia-style“, hours after it was dug-out.

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Comments
  1. laston kahuma says:

    liato is too irrational evn a grade 1 cnt think in that manner.l salute the informers of this issue.

  2. Kieth Slaten says:

    Hi , your site is full of good informations. Thank you

  3. Lucky says:

    I not sure how I ended up on your blog but great writing and many thanks for keeping the Zed fag out there and souring. I must make mention here that you seem to have miscalculated Liato’s ‘Cash Crop’ in US dollar terms. At the time, before re-basing, the USD stood at roughly ZMK 5,000. It would therefore have been USD420,000 equivalent and not USD 420,000,000

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