IPTL TYCOONS CHARGED FOR ECONOMIC SABOTAGE "Credit News 24"
In Summary
Addressing reporters, PCCB director general, Mr Valentino Mlowoka named the suspects as Mr Habinder Singh Seth of Pan African Power Solutions Tanzania and VIP Engineering’s James Rugemalila, who jointly ‘own’ Independent Power Tanzania.
Dar es Salaam. The Prevention and Combating of Corruption Bureau (PCCB) on Monday announced the completion of investigations on the escrow scandal and subsequent charging of two business tycoons over the matter.
Addressing reporters, PCCB Director General, Mr Valentino Mlowoka named the suspects as Mr Habinder Singh Seth of Pan African Power Solutions Tanzania and VIP Engineering’s James Rugemalila, who jointly ‘own’ Independent Power Tanzania.
“For a long time now, people have been curious on progress of our investigations on Escrow and IPTL scandals. It’s the PCCB responsibility to combat corruption and economic sabotage in the country.
Therefore, after thorough investigations, the two will be charged at the Kisutu Court today before being transferred to a special court on economic sabotage,” he said.
In 2014, the two were involved in siphoning of whopping Sh306 billion from the Tegeta Escrow account at Central Bank jointly opened by Tanzania Electric Supply Company (Tanesco) and IPTL pending a tussle over capacity charges between the two in local and international courts.
Part of the money was disbursed to politicians, government executives, judges and religious leaders. It prompted to resignation of former Attorney General (AG), Fredrick Werema, the then Energy and Minerals minister, Prof Sospeter Muhongo.
The fourth phase, President Jakaya Kikwete fired the then Lands, Housing and Human Settlement minister, Prof Anna Tibaijuka after being implicated in the scam.
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