28 March 2016

Zimbabwe: Manager Defrauds Turnall of U.S $85k

TURNALL Holdings' finance manager has appeared in court on allegations of defrauding the company of $85 000, in connivance with two accomplices. Norman Gwangwadza (34) appeared before Harare magistrate Mr Elijah Makomo facing fraud charges last week. He was granted $500 bail and remanded to April 20. As part of his bail conditions, Gwangwadza was ordered to surrender his passport, report once every Friday to CID Frauds, reside at his given address and not to interfere with State witnesses.

Allegations are that sometime between January and May 2014 Gwangwadza, acting in common purpose with his accomplices Abel John and Elizabeth Mwamuka, who are already on remand on similar allegations, hatched a plan to defraud the company.

The court heard that the trio misrepresented to the company on five different occasions that it was to release money to Freight World under the guise of paying a facilitation fee.

It is alleged that Freight World was to facilitate illegal transportation of asbestos fibre from Durban, South Africa, into Zimbabwe which raw material was required by the company for production of asbestos sheets.

The court heard that as a result of the misrepresentation, Gwangwadza and his two accomplices took turns to authorise the release of money by signing cash requisitions, which are being held as exhibits.

It is alleged that $85 000 was released into Gwangwadza's custody and was never paid to Freight World causing actual prejudice to the company.

Turnall Holdings lost $85 000 from the misrepresentation and nothing was recovered.

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