Two First Merchant Bank employees in the cooler for MK6m fraud

Police in Mzimba have arrested two employees of First Merchant Bank (FMB) Mzimba branch on allegations that they swindled MK6 million clients’ money  through fraudlent means and false accounting.

Bank sources told NyasaTimes that that the duo Retail Development Executive Chawangwa Mughogho and Operative Assistant Binala Mitawa were nabbed after the Bank’s audit implicated them in the disappearance of cash.

Mzimba Police Station Officer in Charge Senior Assistant Commissioner of Police Joseph Wadson Chambulika confirmed the arrests but said police were waiting for FMB auditors to bring documents that would verify the allegations before they prosecute.

“We were told the bank’s Auditors from Mzuzu will come with the documents on Monday,” Chambulika said.

In October 2012, Police in Dwangwa Nkhotakota district also arrested anFMB Branch Manager on allegations that he also swindled the Bank of MK9 million.