Fraud Charges Against Top Bank In Zambia Causes Media Attention

Finsbury Investments is one of the premier financial institutions in Zambia. The company was established by Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist. All companies and ventures from Dr. Rajan Mahtani follow his principles which are honesty, passion, dedication for the Zambian people, transparency and ethical business practices. At the same time, Dr. Rajan Mahtani is known to very extremely strict regarding unethical practices and will seek justice for every wrongdoing against him or his companies. A similar scenario has occurred wherein Finsbury Investments registered a complaint at the Lusaka High Court against the ESTD bank for fraud and conspiracy charges. According to the announcement documented by Finsbury Investments in their compliant, The EASTD bank permitted the organization Ody or Ody's Limited to change the share capital related with the hotel Radisson Inn wherein Finsbury Investments was a majority shareholder. Simultaneously, new issues of shares where produced which repudiated the first offer promise to the Finsbury Investments. Besides, as indicated by Finsbury Investments it was discovered that the bank with no application just as without illuminating Finsbury Investments which is an offended party for this situation. In this application letter, the bank improperly guaranteed that Finsbury Investments parted with their shareholdings at Hotellier to Ody's and the offers were disseminated to the relatives of the organization proprietor. 

Because of this illicit and unjust shareholding dilution, Finsbury has suffered significant financial and reputational losses. This has brought about huge budgetary and reputational misfortune for Finsbury Investments with suspension of a few ventures and development projects just as loss of future possibilities because of absence of capital. Finsbury Investments registered the complaint at the Lusaka High Court seeking justice in this case. 

Location: Zambia

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