AUGUST 28 2017
South African-based Malawian billionaire businessman Ashan Simbi Phiri of civil engineering company, Khato Civils,has been cleared by Botswana anti-corruption unit, the Directorate on Corruption and Economic Crime,of money laundering charges.
The Botswana anti-corruption unit obtained a restraining order in April 2016 that froze Khato Civils accounts pending an investigation on money-laundering charges.
The directorate decided to investigate Phiri after he deposited $886 000 cash from South Africa into the Stannic Bank account of Khato Civils.