Malawi Police on Wednesday arrested former Salima Sugar Company Board Chairperson Shireesh Betgiri for various charges leveled against him from 2019 to 2023.

Sources close to the investigations reveals that Betgiri has been charged with four counts which include fraud other than false pretence, obtaining execution of security by false pretence, fraudulently disposing of trustees property and money laundering.

According to the sources the suspect between the year 2019 and 2023 opened another Salima Company in Dubai and obtained a loan amounting to $300Million which is almost K300Billion Malawi currency.

The suspect is due to appear before court anytime sooner.

In April this year Government fired Salima Board shareholders who are also directors of Aum Sugar Allied Ltd and in Aum Shirieesh Betgiri and Bruhat Betgiri and replaced them with other experienced personnel.

Former Board of Directors for Salima Sugar through their lawyer Wapona Kita obtained an injuntion against their dismissal from their board member positions.

However recently the Commercial Division in the High Court of Malawi removed an injunction which Mother’s Dairy and Energy Farms Limited against AUM Sugar and Allied Limited alongside Prashant Sharma for removing representative in the board of directors for Salima Sugar Company Limited.