Fraud Charges Claimed By Finsbury Investments Against EASTD Bank
Finsbury Investments, one of the most notable investment firms in Zambia, recently filed a compliant at the Lusaka High Court claiming fraud charges against a notable bank. This bank is ESATED ( Eastern and Southern African Trade and Development ) Bank. Finsbury Investments claimed that the bank unethically and illegally transferred the shares of a prominent hotel which belonged to Finsbury Investments. Finsbury Investments is a company under the ownership of Dr. Rajan Mahtani , a noted businessman and philanthropist in Zambia . The company suffered huge losses as a result of this illegal share ownership changes. According to the claim made by Finsbury Investments , the said bank allowed the company Ody’s to transfer the shares of Radisson Blue in an illegal and unethical manner. This was done by the bank by issuing a letter without any formal application process as well as without informing Finsbury Investments. The contents of the letter indicated that the shared of Radisson B...