News / Regional
Mohadi defrauded of $1,6 million
24 Jun 2015 at 01:53hrs | Views
A Bulawayo liquidator connived with a Beitbridge Town Council employee and falsified legal documents resulting in Home Affairs Minister Kembo Mohadi and his business partner Josias John Moyo losing property worth $1,6 million.
The property belonged to one of their companies, Nerry Investments.
Barbra Lunga, 58, of Burnside and employed by Impact Trust and Executors, is also accused of stealing $42,128.05 from Nerry Investments' CBZ account.
Lunga pleaded not guilty to charges of fraud and theft of trust property when she appeared before Beitbridge resident magistrate, Gloria Takundwa on Friday.
She was remanded out of custody to August 4 for trial on $1,000 bail.
Nerry Investments was put under provisional liquidation in July 2012 at the height of a business wrangle involving Minister Mohadi and one of the shareholders, Reginald McGillivray Dawson.
Prosecuting, Jabulani Mberesi told the court that soon after Nerry Investments was put under provisional liquidation, Lunga went to Beitbridge Town Council where she allegedly connived with Simon Muleya who is at large and fraudulently transferred ownership of the company's property including Stand Number 1418 and registered it under Red Queen Trading belonging to Dawson.
This was despite the absence of a High Court order authorising such an agreement which resulted in Mohadi and his business partner losing property worth $1,6 million.
The court heard that on July 24, 2012, while Nerry Investments was still under provisional liquidation, before the confirmation of the provisional order and before Lunga was issued with a certificate of appointment by the High Court, she allegedly authorised the transfer of funds from the company's account into Impact Trust Executors bank account.
Lunga transferred a sum of $42,128.05 from Nerry Investments' CBZ bank account into her personal account. She later withdrew the money and converted it into her own use, the court heard.
On August 30, 2012, before the issuance of the certificate of appointment to Lunga by the High Court, Lunga opened a Nerry Investments Judicial Management BancABC account but did not deposit the amount which she had transferred from their CBZ account.
The court heard that Lunga was later issued with a certificate of appointment on December 20. Prior to that, she had no right or control over the assets.
The matter was discovered when Minister Mohadi made a follow up on the operations of the company. He reported the matter to the police and Lunga was arrested.
The property belonged to one of their companies, Nerry Investments.
Barbra Lunga, 58, of Burnside and employed by Impact Trust and Executors, is also accused of stealing $42,128.05 from Nerry Investments' CBZ account.
Lunga pleaded not guilty to charges of fraud and theft of trust property when she appeared before Beitbridge resident magistrate, Gloria Takundwa on Friday.
She was remanded out of custody to August 4 for trial on $1,000 bail.
Nerry Investments was put under provisional liquidation in July 2012 at the height of a business wrangle involving Minister Mohadi and one of the shareholders, Reginald McGillivray Dawson.
Prosecuting, Jabulani Mberesi told the court that soon after Nerry Investments was put under provisional liquidation, Lunga went to Beitbridge Town Council where she allegedly connived with Simon Muleya who is at large and fraudulently transferred ownership of the company's property including Stand Number 1418 and registered it under Red Queen Trading belonging to Dawson.
This was despite the absence of a High Court order authorising such an agreement which resulted in Mohadi and his business partner losing property worth $1,6 million.
The court heard that on July 24, 2012, while Nerry Investments was still under provisional liquidation, before the confirmation of the provisional order and before Lunga was issued with a certificate of appointment by the High Court, she allegedly authorised the transfer of funds from the company's account into Impact Trust Executors bank account.
Lunga transferred a sum of $42,128.05 from Nerry Investments' CBZ bank account into her personal account. She later withdrew the money and converted it into her own use, the court heard.
On August 30, 2012, before the issuance of the certificate of appointment to Lunga by the High Court, Lunga opened a Nerry Investments Judicial Management BancABC account but did not deposit the amount which she had transferred from their CBZ account.
The court heard that Lunga was later issued with a certificate of appointment on December 20. Prior to that, she had no right or control over the assets.
The matter was discovered when Minister Mohadi made a follow up on the operations of the company. He reported the matter to the police and Lunga was arrested.
Source - chronicle
