Fidelity Printers bosses up for $2.6 million fraud

Three Fidelity Printers and Refiners bosses including the chief executive officer were today brought before the courts on allegations of defrauding the country's sole gold buyer of more than $2,6 million.

Allen Marimbe (49) is jointly charged with the company's chief operating officer and finance director Godknows Hofisi (41) and senior finance manager Tinashe Mumbengegwi (35).

Hofisi and Mumbengegwi have another pending fraud charge before the same court involving close to $800 000 in which they also swindled their employer.

They were released on $2 000 bail each coupled with stringent conditions after prosecutor Mr Michael Reza abandoned his appeal against their release.

Mr Reza had invoked section 121 of the Criminal Procedure and Evidence act which allows the State to hold suspects for a week while it considers appealing.

On the fresh $2 669 146 fraud charge, the trio today appeared before magistrate Mr Vakayi Chikwekwe.

They were remanded in custody to tomorrow for bail application.

The company's company secretary Terrence Tererayi Machawira (41) and an accountant Ronald Madhara (47) are also on bail as they are also facing fraud charges.

Details to follow.....