Zimbabwe: Bank Swindled of $23m By Pair

An accounts clerk with NMB Bank has appeared in court on allegations of duping his employer of $23 425 701 in a cash transfer deal.

Aurther Munhuuripi appeared before Harare magistrate Mr Dennis Mangosi yesterday facing fraud charges.

The matter was remanded to today for bail application.

The court heard that on April 16, Munhuuripi, allegedly acting in connivance with his assistant manager, Nyasha Dumbu who is still at large, and without authority from NMB Bank, transferred $16 741 050 from NMB bank suspense account to Vertchord Enterprises' NMB account.

It is alleged that on the same date, Munhuuripi transferred $6 684 651, 96 from the same suspense account to Simrac Ent's NMB account.

The court heard that Munhuuripi later followed up the funds from the accounts and used them for his benefit, and that of the alleged co-accused, to the prejudice of the bank.

It is the State's case that the offence came to light on April 29 and investigations by the bank led to the identity of Munhuuripi and his accomplice, who remains at large, as evidenced by the password used during the transfer of the funds.

The court heard that a report was made to the police, leading to Munhuuripi's arrest on Wednesday this week.

Of the over $23 million that NMB was prejudiced, nothing was recovered.

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