News / National
Insurance company boss nabbed
18 Feb 2014 at 01:31hrs | Views
Police have arrested three Navistar Insurance Brokers Limited directors implicated in the Air Zimbabwe (Private) Limited scandal for allegedly defrauding the national airline of more than two million euro.
The three are managing director Givemore Nderere (46), director Vukile Hlupo (45) and finance and company secretary Orton Mawire (60).
The trio's arrest follows that of suspended Airzim chief executive Innocent Mavhunga (53) and his predecessor, Peter Chikumba, on fraud allegations.
Last Wednesday, company secretary Grace Nyaradzo Pfumbidzayi (48) was also arrested on similar charges and has already appeared in court and was remanded in custody.
The three Navistar directors are accused of inflating insurance premiums and claiming money for services not rendered, thereby prejudicing the national airline.
Chief police spokesperson Senior Assistant Commissioner Charity Charamba yesterday confirmed the arrest of the three directors.
"They are being charged for fraud in conjunction with two counts of theft of trust property, contravening Section 113 (b) of the Criminal Law (Codification and Reform) Act Chapter 19:23," Snr Asst Comm Charamba said.
She said they were being charged with the other three Airzim officials who have already been arrested over the insurance fraud.
Snr Asst Comm Charamba said investigations were in progress.
According to a forensic audit by Forensic Audit Services, Navistar was appointed by Airzim on March 18, 2009 without going to tender.
The firm was confirmed through a letter written by Pfumbidzayi as the sole exclusive insurance broker for the aviation insurance for Airzim effective April 4, 2009.
The fraud arose after the national airline allegedly paid €713 921 04 as a premium for insurance for its MA60 aircraft.
Airzim is also reported to have made other premium payments for aviation insurance and as a result was allegedly prejudiced of €1 million between 2009 and 2010.
Nderere is alleged to have written a letter to Airzim and attached a fraudulent debit note and the national airline was prejudiced a total of €1 015 099 73.
The three directors are also accused of prejudicing Airzim of €1 309 244,51 due to outrageous charges which, according to aviation insurance, are deemed fraudulent.
These premiums were paid between April 4, 2010 and April 3, 2011 and payment of €20 196 60 with no supporting evidence to Navistar.
The three are managing director Givemore Nderere (46), director Vukile Hlupo (45) and finance and company secretary Orton Mawire (60).
The trio's arrest follows that of suspended Airzim chief executive Innocent Mavhunga (53) and his predecessor, Peter Chikumba, on fraud allegations.
Last Wednesday, company secretary Grace Nyaradzo Pfumbidzayi (48) was also arrested on similar charges and has already appeared in court and was remanded in custody.
The three Navistar directors are accused of inflating insurance premiums and claiming money for services not rendered, thereby prejudicing the national airline.
Chief police spokesperson Senior Assistant Commissioner Charity Charamba yesterday confirmed the arrest of the three directors.
"They are being charged for fraud in conjunction with two counts of theft of trust property, contravening Section 113 (b) of the Criminal Law (Codification and Reform) Act Chapter 19:23," Snr Asst Comm Charamba said.
Snr Asst Comm Charamba said investigations were in progress.
According to a forensic audit by Forensic Audit Services, Navistar was appointed by Airzim on March 18, 2009 without going to tender.
The firm was confirmed through a letter written by Pfumbidzayi as the sole exclusive insurance broker for the aviation insurance for Airzim effective April 4, 2009.
The fraud arose after the national airline allegedly paid €713 921 04 as a premium for insurance for its MA60 aircraft.
Airzim is also reported to have made other premium payments for aviation insurance and as a result was allegedly prejudiced of €1 million between 2009 and 2010.
Nderere is alleged to have written a letter to Airzim and attached a fraudulent debit note and the national airline was prejudiced a total of €1 015 099 73.
The three directors are also accused of prejudicing Airzim of €1 309 244,51 due to outrageous charges which, according to aviation insurance, are deemed fraudulent.
These premiums were paid between April 4, 2010 and April 3, 2011 and payment of €20 196 60 with no supporting evidence to Navistar.
Source - Herald
