FOREX SCAM:Chinese denied bail

Midima First Grade Magistrate Lyson Chitsulo has objected to a bail application by a Chinese national Shen Chong who has been slapped with money laundering charges.
He was arrested at Chileka International Airport last week for attempting to externalise some US$39,151 without official permission contrary to Malawi laws.
Chitsulo argued that he could not release the suspect on bail because the offence is serious and there is a possibility that the suspect can bolt because he is foreigner.
“This is a serious case because the suspect was caught trying to take forex out of this country at a time when there is an acute shortage of forex. This has serious repercussions because it could frustrate the economy.
“Secondly, the suspect was arrested at the airport when he was about to leave this county. He is a foreigner and his place of birth has not been ascertained yet as such there is every possibility that he could jump bail and escape. As such, I have decided to deny the suspect bail,” he ruled.
The magistrate said although the court appreciated that the criminal procedure, and the constitution provides that every accused person has a right to be released on bail, such right was not absolute.
“The provision for bail also considers the seriousness of the case, the penalty of the case, likelihood of the suspect jumping bail and likelihood of the suspect interfering with witnesses to the case,” he argued.
Magistrate Chitsulo, however, ordered state prosecutors to commence trial within a fortnight.
Shen’s lawyer Trouble Kalua said he would appeal to the High Court.
“My client has requested for a second hearing of the bail at a higher court. I would be submitting the application for the second hearing at the High Court very soon,” he said.
There were several other Chinese nationals at the court who prevented journalists from taking photographs or conducting interviews related to the case.
Shen hid the money in Benson & Hedges cigarette packets at the time fiscal police arrested him.
His arrest came barely a week after President Bingu wa Mutharika slammed some business persons and foreigners for illegally externalising forex.
Mutharika branded such persons as enemies of the state.