High Court Judge Chifundo Kachale has sentenced Treaser Guta and Peter Guta to a 20-month imprisonment with hard labour (IHL) and a fine of K1.9 million each for being found guilty on three counts bordering on money laundering. 

The two, who are a couple, were convicted in March this year on three offenses of using foreign currency for a purpose different from the one specified, making false statement and money laundering.

Delivering his sentence Tuesday afternoon in Lilongwe, Judge Kachale said in accordance with offenses, the couple deserves a custodial sentence saying they had no remorse when committing the said crimes.

“We had asked the court to give custodial sentences to the two convicts because the offenses they committed were very serious and touched on the lifeline of the economy of Malawi.

“And fines alone would not be adequate sentences on all the three counts We had levelled against them,” said Joel Matonga, Public Prosecutor in the office of the Director of Public Prosecutions (DPP).

Lawyer representing the convicts Khwima Mchizi said he will consider next course of action after thoroughly reading a perfected judgment.

He said: “As defense obviously we are sad, but the law is the law the court has made its decision and if we are to make any comments, we should look at the perfected judgment.”

According to the State, between May 7, 2016, and February 8, 2019, at Ned Bank and New Finance Bank in Lilongwe, the convicts used foreign currency amounting to $6, 011, 500 as business allowances for their purported employees, for a purpose different from what was specified.

The sentences will run concurrently.