ACB arrests CEO of CDH Investment Bank

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The Anti-Corruption Bureau (ACB) has arrested the Chief Executive Officer of CDH Investment Bank Misheck Essau, for allegedly failing to conduct due diligence and monitor the bank’s business relationship and transactions with Pioneer Investments Limited.

Pioneer Investments is the company that was involved in an allegedly dubious deal to supply food rations to the Malawi Police Service.

A statement signed by the ACB’s Senior Public Relations Officer Egritta Ndala indicates that Esau is likely to be charged with conspiracy, failure to conduct Due diligence and monitoring, influencing the use of public office for advantage and money laundering. He is expected to appear before court  on Wednesday.

The statement however does not indicate whether or not the arrest is linked to the food rations scam.

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