Zimbabwe: Company Loses $12m in Staff Plot

Two sales representatives at Creative Credit (Pvt) Limited yesterday appeared in court on allegations of defrauding their employer of more than $12 million after setting up their own company and started trading goods and services similar to that of their employer using his flagship.

Stephen Neshamba (40) and Richard Tomu (43), who were stationed at Masvingo branch, allegedly formed a company called Kandk Investments and started selling goods and services to customers who were hoodwinked into believing that they were buying from Creative Credit (Pvt) Limited.

They allegedly traded with 638 customers prejudicing their employer of $12 658 061.

Neshamba and Tomu appeared at the Masvingo Magistrates Court charged with fraud and concealing a transaction from a principal.

They were not asked to plead to the charges when they appeared before Masvingo magistrate Mrs Patience Madondo, who remanded them to June 23 on $5 000 bail each.

The State alleges that the two entered into a contract as sales representatives with Creative Credit Private Limited from January 2014.

It is alleged that Neshamba and Tomu were each allocated a branded company car, uniforms and stationery for easy identification during execution of their duties.

The court heard that the duo acquired a loan from a finance institution, went to register Kandk Investments and set up an office at Timberland building in Gutu, Masvingo.

They then started selling their own products similar to those of their employer, which included cellphones, solar products and household accessories, without the knowledge and approval of their employer.

It is said that between February and March 2021 Creative Credit (Pvt) Limited received several enquiries from clients who had experienced double deductions on their pay slips at the Masvingo branch and upon checking with its database, it was discovered that most clients were non-existent.

Between January 2014 and April this year, Neshamba and Tomu were allegedly allocated sufficient stocks of gadgets which they were supposed to sell to clients on loan credit instalment facility.

The court heard that while executing their duties they introduced themselves to 638 people as Creative Credit (Pvt) Limited clients and sold gadgets worth $12 658 061, 43 using branded stationery.

It is alleged that Neshamba and Tomu during the same period went on to cancel loan applications contracts and diverted the sales to their own company. Allegations are that they went to process 638 new loan applications forms and supplied their own products pretending as if they were Creative Credit products. Payments were directed into their CBZ account, according to the State.

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