Sri Lankan national fined MK200,000 for dealing in foreign currency

Lilongwe, Malawi - The Lilongwe Chief Resident Magistrate Court has fined a Sri Lankan national, Kankanige Anura Piyaratana Alwis, MK200,000 (about $200) for dealing in foreign currency, writes Wanangwa Mtawali.

The charge sheet reads that Alwis exchanged foreign currency with Lin Huixin amounting to $310, 000.00 without the permission of the Minister of Finance between January 1, 2019, and June 11, 2021, in the city of Lilongwe.

Senior State Advocate, Mathews Chione, said the fine is what the law stipulates, adding that the magistrate could not do otherwise.

Alwis could have served one year in prison if he had failed to pay the fine.

In a plea-bargain deal with the state, Alwis also restituted $83,000 (about MK83 million) to the state.

Chief Resident Magistrate Madalitso Chimwaza used the 1970s Exchange Control Act, which stipulates a three-year prison sentence or a fine of MK10,000 (about $10).

The magistrate used the Fines Conversion Act to convert the MK10,000 to current monetary terms, which summed up to MK200,000.

However, when passing the judgment, the magistrate complained about the fine and nature of the law and asked Parliament to do something about it.

The magistrate also considered mitigating factors such as the fact that Alwis restituted the money, committed the crime for the first time, and did not waste the court’s time.

Senior State Advocate, Matthews Chione, welcomed the court's judgment, saying the state cannot fault the fine, for that is what the law states.

Alwis's accomplice on the charge sheet, Lin Huixin, a Chinese national, was earlier this month also fined MK200,000 on account that she was a first-time offender and very young.

Alwis was formally charged with laundering over MK500 million ($500,000) and dealing in foreign currency alongside three Chinese nationals—Lin Hao Yuan, Hua Qing Zhang, and Lin Huixin.

However, state prosecutors dropped the money laundering charge and maintained the foreign currency one, which Alwis had faced alongside Lin Huixin.