Zomba High Court Judge Redson Kapindu has sentenced chief cash gater, Oswald Lutepo to 11 years imprisonment for the money laundering and conspiracy to defraud government.
Speaking soon after the sentence Lutepo while looking calm said he it was unfortunate that he has been convicted for the wrongdoing of somebody else.
Oswald Lutepo maintained that he was used to siphon the state.
According to records Lutepo became a billionaire at the tender age of 37.
Lutepo pleaded guilty to charges of theft and laundering K2.1 billion believed to have been obtained in the plunder of government funds popularly referred to as Cashgatem and has been convicted by the High Court in Zomba.
Soon after pleading guilty to the crimes, Lutepo was finally detained in custody while awaiting his sentencing.
Lutepo’s lawyer Osward Mtupila Said his client Mr. Oswald Lutepo changed his plea to
“guilty” upon his legal advice.
His lawyer revealed that Mr Lutepo could not come up with good reasons for the money and upon advice he agreed to the plea of guilty.
Last year Lutepo proclaimed on Zodiak Radio that he had the blessings of former President Joyce Banda in looting the finances.
Oswald Lutepo allegedly got the second highest payments on the list of individuals amounting to K4.4 billion (US$9.8 million). However Lutepo has implied that he was simply a conduit,the money ended up as part of the PP election campaign for the 2014 Presidential elections which they lost.