Finance Bank chairman Rajan Mahtani has been arrested on two counts of forgery C/Sec 344(9) of the Penal Code Cap 87 of the Laws of Zambia.
According to a statement by Police Spokesperson Charity Mubanga, Mr. Mahtani was arrested on two counts of forgery C/Sec 344(9) of the Penal Code Cap 87 of the Laws of Zambia.
“In both counts, Dr. Mahtan is alleged to have jointly and whilst acting with other persons unknown forged a Transfer of 500,000,000 Shares from Zambezi Portland Cement into Finsburg Investment Limited purporting that the forms were dully signed by the Directors of Zambezi Portland Cement when in fact not,” the statement reads.
The offences are alleged to have been committed on 12th of December 2006. Mahtani has been bonded and will appear in court soon, according to the police.