News / National
Latest on Ginimbi saga
20 Nov 2018 at 20:51hrs | Views
Maverick businessman and Socialite Genius 'Ginimbi' Kadungure was released on a $1,000 bail by a Harare High Court judge on Tuesday afternoon.
Part of the conditions for his release, Kadungure surrendered his passport; title deeds for a property worth $250,000 and was instructed to report once fortnightly to the CID Commercial Crimes Unit and to continue residing at his home in Domboshava.
Justice Tawanda Chitapi who delivered the judgement ruled that Harare magistrate Bianca Makwande had erred in denying bail to the Ginimbi.
Upon release, Ginimbi bought chicken Inn meals for inmates whom he shared nights with.
Allegations are that between February 2009 and May 2016, Kadungure misrepresented to the Zimbabwe Revenue Authority (Zimra) that his company, Piko Trading, made total sales of $2 777 678 inclusive of value-added tax (VAT), whereas in actual fact, it had made $9 092 952 inclusive of VAT.
The court heard that this was done with the intention of evading paying (VAT).
The offence came to light when Zimra conducted an investigation into Piko Trading activities.
Part of the conditions for his release, Kadungure surrendered his passport; title deeds for a property worth $250,000 and was instructed to report once fortnightly to the CID Commercial Crimes Unit and to continue residing at his home in Domboshava.
Justice Tawanda Chitapi who delivered the judgement ruled that Harare magistrate Bianca Makwande had erred in denying bail to the Ginimbi.
Upon release, Ginimbi bought chicken Inn meals for inmates whom he shared nights with.
Allegations are that between February 2009 and May 2016, Kadungure misrepresented to the Zimbabwe Revenue Authority (Zimra) that his company, Piko Trading, made total sales of $2 777 678 inclusive of value-added tax (VAT), whereas in actual fact, it had made $9 092 952 inclusive of VAT.
The offence came to light when Zimra conducted an investigation into Piko Trading activities.
Source - Byo24News
