Mzuzu Resident Magistrate Adul Issah Maulidi remanded Mzuzu EcoBank Branch Manager, John Chizuza who is answering charges of theft by servant and fraud other than false pretense.
He was arrested on June 9, 2022 for failing to account for K129 million belonging to a client’s account.
He pleaded not guilty to the charges.
According to sources privy to the case, it is suspected that the K129 million that Chizuza mismanaged belongs to Sana Cash and Carry.
Through his lawyer Wesley Mwafulirwa, he applied for bail which the State vehemently protested arguing that his release may jeopardize investigations.
In his ruling, Maulidi agreed with the State and remanded him at Mzuzu prison.
He is expected to appear in court on Monday next week.
In the case the State is being represented by Regional Prosecution Officer for the North senior Superintendent Moja Phiri.
Mzuzu Police Public Relations Officer, Paul Tembo said Chizuza was arrested after a complaint from auditors.