Zambia’s Drug Enforcers Arrest 3 Heritage Coin Directors For $2.3 Million In Crypto Laundering Charges
Zambia’s Drug Enforcement Commission (DEC) has recently announced that they have arrested three employees of crypto company Heritage Coin Resources Limited. They were charged for laundering about 28,000,000 kwachas which roughly equals $2.3 million.
The individuals charged currently are 35-year-old Hilda Agnes Raubenheimer of Salama Park; 29-year-old Orient Rio of Ibex Hill, and 40-year-old Tapiwa Chirwa. All three are currently on police bond and are to oblige in a Zambian court before the end of the year.
DEC’s assistant public relations officer Chibu Mwansa Tembo said that they have been collecting funds through lies and deception. Other charges include running a finance firm without the required license.
The group worked for an unnamed leader between the dates of June 1 and October 15, 2018. The firm claimed that they would trade cryptos online for its customers, although this was not part of the organization’s goals. DEC’s Deputy Public Relations Officer Kamufinsa Manchishi said the firm is being examined for actions opposed to the Prohibition and Prevention of Money Laundering as well as the Banking and Financial Services Acts.
“The company has since been offering financial services and collecting deposits from members of the public. As such, the Commission together with the Bank of Zambia is currently investigating the company for activities contrary to the Prohibition and Prevention of Money Laundering as well as the Banking and Financial Services Acts respectively,”
Manchishi requested members of the public who have made deposits to the company to not panic and contact the Commission’s Anti-Money Laundering Investigations Unit for further information.
“The Commission wishes to warn members of the public to always be cautious when dealing with financial institutions owing to the increase in financial crimes as well as companies promising unusually high returns on deposits.”