News / National
Zinara bosses loot $300 000
12 Jul 2017 at 11:52hrs | Views
THE Zimbabwe National Road Administration Director Simon Mudzingwa Taranhike (53) and Finance Manager Shadreck Matengabadza (44), suspended recently by their employer, appeared in court today charged with swindling the parastatal of $300 000.
The pair allegedly transferred the money into a fraudulent company on the pretext they were repaying a loan to Development Bank of Southern Africa (DBSA).
It is alleged the money was later transferred into individual accounts including Matengabadza's wife's.
They also fraudulently used documents of a late person to open a company and a bank account, and made the deceased a signatory, the court heard.
Taranhike and Matengabadza were not asked to plead to the charge when they appeared before Ms Nomsa Sabarauta.
They were released on $500 bail each.
Details to follow....
The pair allegedly transferred the money into a fraudulent company on the pretext they were repaying a loan to Development Bank of Southern Africa (DBSA).
It is alleged the money was later transferred into individual accounts including Matengabadza's wife's.
They also fraudulently used documents of a late person to open a company and a bank account, and made the deceased a signatory, the court heard.
Taranhike and Matengabadza were not asked to plead to the charge when they appeared before Ms Nomsa Sabarauta.
They were released on $500 bail each.
Details to follow....
Source - herald
