Cashgate Saga at Silver Strikers Football Club

Cashgate Saga at Silver Strikers Football Club

By: Andrew Cane Chilapondwa

Silver Strikers executive committee is under fire for blowing K54 million from their K70 million Reserve Bank of Malawi (RBM) sponsorship for this season.

According to information reaching The Malawi Star, the swindled money was used as collateral in order to make sure that football players at the club are receiving their perks in the 2016 season.

The executive committee, which is being led by Oscar Mabulekesi, failed to explain to RBM Governor Charles Tchuka on what has happened to the financial package since the kick off of the 2016 football season last week.

It has been reported that the Executive committee is being investigated for embezzlement. Mabulekesi alongside treasurer Fred Kalonga and General Secretary Chimwemwe Nkhwimba are at the helm of the suspected fraudulent committee.

When summoned, the officials lied to the Governor by showing him fake receipts and invoices which indicated that the team had some arrears.

An inside source has also confided with the publication that some executive members have been suspended by the team’s board of trustees with immediate effect as a result of these mind boggling revelations.

Only 30 percent of the total financial allocation has been used in players’ wages and signing new players to the team, but the rest of the package has miraculously vanished.

This means Silver Strikers club is with less than K18 million from their package in the bank, which will greatly cripple their operations. This will be the biggest cashgate saga to have happened in Malawian football.