Chief Resident Magistrate court in Lilongwe has released on bail three former senior officers of Malawi Leaf Company, a subsidiary of Auction Holdings Limited Group (AHL) and a businessman.

The senior officers, Evans Matabwa, Jimmy Kusamale, Francis Madonna and businessperson Arthur Madikhula were arrested on Tuesday this week on alleged conspiracy and theft of K20, 472, 115, 504.39 from the company.

Appearing before Magistrate Patrick Chirwa, the four have been ordered to pay a cash bond of K5 million each, two sureties each with cash bond of K2 million, including surrendering travel documents and report to police once every fortnight.

According to Powel Nkhutabasa, one of the defense lawyers, the suspects have not been released yet as the court is expected to examine the sureties.

Nkhutabasa said: “Yes, the clients have been given bail, they are not going to be released immediately, and the sureties will be examined on Monday.

“I don’t have to comment on that one but it happens, and when we do applications we make sure that we are ready with whatever requirements that application entails.”

The State has since open six counts to do with conspiracy to defraud, neglect of official duty, forgery of official document, uttering a false document, theft, and money laundering.