Harare businessman Genius "Ginimbi" Kadungure, who is being accused of fraud, tax evasion and money laundering, yesterday spent another night in remand prison after the High Court deferred his bail ruling to today.
High Court judge Justice Tawanda Chitapi heard the bail appeal at the weekend, but reserved the ruling to yesterday.
Yesterday, the parties were informed that the judge was not yet ready with the decision on the bail appeal before the matter was rolled over to today.
Kadungure lost his first freedom bid last Friday at the Harare Magistrates Court when regional magistrate Ms Bianca Makwande dismissed the request.
The prosecution had consented to the granting of bail in the sum of $1 000, but regional magistrate Ms Bianca Makwande ruled that the businessman's release on bail was not in the interest of justice.
Ms Makwande said Kadungure's release would undermine public confidence in the criminal justice system.
"I am guided by Section 117 (3) (b) of the Criminal Procedure and Evidence Act as well as Section 117 (3) (e) of the same Act," she said.
"The release of the accused will undermine public confidence in the criminal justice system."
Ms Makwande said the offences fell under the bracket of serious offences cancerous to the society, hence bail could not be granted.
"Therefore, despite the State's consent, I hereby deny bail," ruled Ms Makwande.
Kadungure's lawyer Mr Jonathan Samukange of Venturas & Samukange Legal Practitioners appealed the decision at the High Court on Friday evening.
Allegations against Kadungure are that between February 2009 and May 2016, his company Piko Trading Private Limited misrepresented to Zimra that it made total sales of $2 777 678, inclusive of Value Added Tax, when in actual fact the company had made sales amounting to $9 092 951.
To that end, Zimra suffered a prejudice of $417 940.
Kadungure is also being accused of evading tax, with Zimra suffering a total prejudice of $3 468 949.
He was arrested on Thursday last week at the Harare Magistrates Courts after appearing before the court in a different case in which he is being accused of duping Chegutu West National Assembly Member Cde Dexter Nduna and Ivon and Enos Gatawa of R1 535 000 in a pump supply deal.