Collins Magalasi granted bail in hotel fraud and phone hacking cases

Economist and political strategist Collins Magalasi has been granted bail in two separate legal cases.

In the first matter, Magalasi faces allegations of fraud, money laundering, and theft involving MK3.5 billion. This case is linked to the controversial MK128 billion acquisition of the Amaryllis Hotel in Blantyre by the Public Service Pension Trust Fund. Chief Resident Magistrate Austin Banda granted bail on the condition of a MK1 million bond, two sureties of MK5 million each, fortnightly police reporting, and a prohibition against interfering with witnesses. The court rejected state arguments that Magalasi posed a flight risk, citing a lack of sufficient evidence.

In the second case, Magalasi is accused of involvement in a plot to hack the phone of President Peter Mutharika. While state prosecutors indicated the investigation is at an advanced stage, they noted difficulties accessing Magalasi’s phone due to passcode protections. His legal counsel cited the state’s incomplete preparations and Magalasi’s health as grounds for the bail application.