Malawi police bust fake money ring

Inspector General of Police Peter MuKhito says the Bank never came to police with any information regarding the counterfeit operation.

This weekend the Malawi News has reported that an informant came to the newspaper with information about the syndicate.

The police, the newspaper, an informant together with the Reserve Bank of Malawi (RBM) bust the fake money printing operation in the capital Lilongwe and arrested seven people. Two officials at the Central Bank, Peter Rashid and Godfrey Guwa, have been suspended pending investigations.

RBM chief Perks Ligoya, who is at a loss as to why his officers didn't act accordingly, says the police have confiscated a computer, six guns, counterfeit money worth K12,000, and 2,333 fake coupons for fertiliser subsidy.

According to Malawi News the informant, whose identity has been deliberately concealed, is an expatriate. He had reported the matter to RMB's Major Guwa, but the official didn't act on this matter.

Guwa said he didn't tell his superiors because "there was a lot of uncertainty about the information the informant was giving" and it appeared to him the informant had a stake in it.

The informant said he was told the Inspector General was waiting to issue a search warrant to go after the syndicate.

The syndicate is said to have initiated contact with the informant, asking him to find a market for their fake money. One of the members of the group printed K17,500 in his presence and gave his child K500 to go buy something. Using the money, the child was able to buy a soft drink.

The suspects were said to be exchanging a K500 fake note with a K200 genuine note. Some of the fake money could be deposited and cashed later.

When the informant reported the matter to the newspaper, the suspects threatened him and in January this year he was was attacked by unknown people who stole his cash and phone. He is still receiving threats.

While the police are still investigating the threats against the informant, they have since submitted for examination the fake fertiliser coupons to the Government Press in the former capital Zomba.--maravipost.