Faizal Latif of Mapeto Wholesalers to spend one more night in jail before bail application ruling

Faizal Gaffar Latif the Asian business tycoon is set to spend one more cold night in the cooler following his arrest on tax evasion charges following an investigation by the Malawi Revenue Authority (MRA) into fraudulent business practices by at least one of his companies.

Latif who is being represented by Lawyer Jai Banda, a renowned music promoter who founded Entertainers Promotions that helped catapult the likes of Bright “Live Wire” Nkhata and Makasu Banda to fame, is facing tax evasion charges that amount to K10 billion together with his son Muhammed, and three other managers at Mapeto David Whitehead and Sons Limited.

The five appeared in court today to be formally charged but Resident Magistrate Akya Mwanyongo has reserved to tomorrow the ruling on a bail application by the five accused.

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