Faith Musonda claims she doesn’t own Kingsland City mansion

0
92

IN one breath, billionaire journalist Faith Musonda wants the Economic and Financial Crimes Court to cleanse her questionable property yet in another she’s denying ownership of the Kingsland City Mansion.

Musonda claims the Anti-Corruption Commission (ACC) has deliberately failed to tabulate her earnings from her sources of income with a motive to justify its suspicions that her property is tainted.

In this matter, the Anti-graft body wants the Court to forfeit her house in Kingsland City, a farm in Chisamba, business premises, Money in her Bank accounts and farm machinery on reasons that they were illegally obtained.

The ACC has cited Faith Musonda and her companies Sela Property Investments Limited, Convenant Broadcasting Company ,Life Television Limited as interested parties in the matter.

In October 2021, Musonda was granted immunity from prosecution by the ACC after she gave up her luxurious house in New Kasama, some dollars and K65 million which she could not account for.

However, the ACC feels to have been ‘dribbled’ in the bargain as it argues that Musonda did not make a full and frank disclosure of the illegal properties hence the EFCC should grab what she is left with.

The properties that have been seized and earmarked for forfeiture are ; Plot no. LUSAK/LN_24982/3 in Kingsland City, plot no. F/1504/A in Chisamba, plot no. F/378a/11 in Ibex Hill, Bank of Zambia Government bonds issue no.01/2021/BA, Treasury bills issue no.11/2021TBs, Madison Finance Fixed term deposits unit no. 1140446 and assorted jewels.

Others are a Tafe tractor 7515 75HP-unregistered, plough disc BD mounted AF3, Harrow Disc BD GHO-R mounted 16, planter BD PLB-4 mounted row, sprayer Boom Jacto(M) condor M12, Trailer 5TN steel deck and a Toyota Allion registration no.72M.

But in an affidavit in opposition to affidavit in support of originating notice of motion, Musonda said she initiated a transaction for the acquisition of a house in Kingsland City but the transaction was not formalised due to financial constraints.

She said ownership of the property is still in the seller’s name as it was not completed.

“The process to cancel the transaction is indicative of the fact that I failed to fulfill the requirements for completing the purchase. Therefore, the assertion that I purchased the property at US$180, 000 is erroneous and misleading,” Musonda explained.

She claimed the allegations are aimed at inflating the value of her assets in an attempt to cast doubt on the legitimacy of her personal income.

Musonda said her financial standing is in line with her lawful earnings.

The journalist said she does not have properties registered under her friend’s name Chimuka and and businessman Miyanda Milambo.

She said the payments she intended to make for the purchase of property in Kingsland City were to be made in installments.

Musonda wondered how the monies she earned in her 24-years of practice as a journalist could be perceived illegitimate based on superficial investigation.

She said the omission of her sources of income is aimed at justifying the suspicion that the wealth is tainted.

“These include rental proceeds from a property I own in Salama Park and various incomes derived from my professional engagements notable appointments include positions at SABC, Tsogo Sun Group of Hotels (Southern Sun) in Pretoria. I assumed senior management roles on prominent local institutions serving as head of Channel for ZNBC TV 2 and holding a position within the Director Genral’s office at ZDA where I received gratuities and other payments in form of allowances,” Musonda explained.

“As a communications expert with 24 years of experience, I have successfully operated my commercial television production companies from its inception. I acquired government bonds and Treasury bills through an account with the Bank of Zambia (BOZ), utilizing funds obtained from the sale of one of my Properties.”

She said the calculations made by the Commission represents the accrued value of the investments and rather than the initial amount she paid for the Government Bonds and the Treasury Bills.

Musonda charged that assertions regarding her source of wealth are baseless in establishing grounds for forfeiture and lacks merit.

“The attempt to attribute suspicion of proceeds of crime to assets that have been lawfully acquired and are properly accounted for is unjustified. This constitutes a fit and proper case for this Court to conclude that the properties in question were legitimately acquired,” said Musonda.

“The comprehensive evidence provided by the first interested party effectively refutes any suggestion of impropriety or unlawful activity surrounding the acquisition of these assets.”

By Mwaka Ndawa

Kalemba March 5, 2024.

LEAVE A REPLY

Please enter your comment!
Please enter your name here