Ultimate Insurance directors arrested

By NATION REPORTERS POLICE have jointly arrested and charged Ultimate Insurance Company Limited directors, Tobias Milambo, Nachi Musonda and Richard Lubemba with the offence of fraudulent dealing with a motor vehicle. According to police spokesperson, Esther Katongo, Mr  Milambo, Mr Musonda, Mr Lubemba and other persons known to themselves in June, 2020 jointly and whilst acting together did fraudulently dispose of a motor vehicle Ford Ranger, registration number BAF 9826 ZM  with intent to allegedly defraud. Ms  Katongo said the suspects purported that the board of directors for Ultimate Insurance Company Limited lawfully disposed of the above mentioned motor vehicle when in fact not. She said it was also alleged that the motor vehicle in question was stolen from Ultimate Insurance Company Limited and onwership of the said motor vehicle was changed from Ultimate Insurance Company Limited to Nachi Musonda. “This is reported to have occurred in  June, 2020 at Ultimate Insurance Company Limited in  Lusaka,” Ms Katongo said. Ms Katongo said the suspects had been released on police bond and would appear in Court soon.