As events continue to unfold at MoneyGrow Cooperative, it has now come to light that MoneyGrow members are taking a step further by going to report Mwanagala Chakalashi, Raphael Lubanga and Charles Liywalii to DEC for deception and fraud. This is after it has become clear that the trio have been lying to MoneyGrow members that K21 Million was stolen from the cooperative in 2022 when in fact not.
In January 2023, the accused trio reported to the Police that named officials at MoneyGrow had stolen K21 Million Kwacha. However this claim was not backed by any evidence of any kind. In fact the accused people pointed to the evidence of bank deposit slips and payment vouchers as proof that the funds in question were either deposited in the bank or paid to suppliers.
As if dealing with small children, the trio went on to claim that MoneyGrow had a net positive balance at 12 September, 2023. This report was questioned by many members who wondered how a positive balance sheet could be achieved if MoneyGrow had indeed lost K21 million. MoneyGrow is a none profit making Cooperative.
Fast forward, in September 2023, the trio absconded from MoneyGrow members, closed offices of MoneyGrow and lied to members that Liquidators were now in charge of MoneyGrow Affairs. Despite this, the accused continued to siphone funds from MoneyGrow to pay themselves and their associates.
MoneyGrow members elected a new board on 13 October, 2023 and resolved to have a forensic Audit. Terms of reference for this Audit have been drafted and Quotations have been received from certified audit firms. Unfortunately, the former Board members are holding on to the Cooperative's documents in a bid to avoid the audit.
Members are having none of this as they plan to arrest the trio and also report them to DEC for financial crimes
We shall keep our readers posted as events unfold