News / National
Ex-DPC boss charged for 'looting' spree
12 Jun 2022 at 09:17hrs | Views
FORMER Deposit Protection Corporation (DPC) chief executive officer Vusulizwe Vuma has been charged with criminal abuse of office after the Zimbabwe Anti-Corruption Commission (Zacc) exposed how he allegedly bled the deposit insurance firm during his reign.
The DPC was established by government in 2003 to protect depositors against loss of their insured deposits placed with member institutions.
Vuma (54) allegedly used to travel abroad on official business with his wife Roselene Nyarai Chabikwa at the expense of DPC.
According to investigations by the Zacc, on September 8, 2019 the PDC was invited to attend the 18th International Association of Deposit Insurers Annual General Meeting Conference from October 7 to 11 in 2019 in Istanbul, Turkey.
Vuma and Mike Chingosho, the former finance and administration director were chosen to attend the event.
As per procedure, the DPC wrote to the Office of the President and Cabinet seeking Cabinet authority for Vuma and Chingosho to travel to Turkey.
The Cabinet authority was granted on September 16, for the two to travel to Turkey from October 4, returning on the 13th.
Investigations revealed that on September 18, Vuma instructed Rudo Petronella Marimbe, the policy research and international affairs officer, to include his wife on the trip even though she was not included on the Cabinet authority itinerary.
It is alleged on September 20, the DPC paid US$2 019 to cater for Vuma's wife's travel expenses to Turkey.
In terms of Treasury Circular No 14 of 1998, all government employees who travel outside the country on business receive travel and subsistence allowances to cater for their expenses while on business.
According to the circular, Vuma and Chingosho were to receive US$343.00 per day calculated at approved daily per diem rates.
In terms of the DPC foreign travel policy, if the period spent outside is reduced for whatever reason, the unutilised foreign currency must be returned within four days after return to Zimbabwe.
Investigations revealed that Vuma left the country on October 8, 2019 when the conference was well underway in Turkey.
He returned to Zimbabwe on October 14, 2019 implying that the accused had US$1 715.00 in the form of unused foreign currency, which he was supposed to return to the DPC.
Vuma is said to have converted the money to personal use.
On July 17, 2019 Vuma allegedly caused the DPC to pay for his wife and four children with airfare and accommodation for his international holiday in Dubai from August 9 to 13 in violation of set policies.
The DPC was made to pay US$3 994 towards holiday expenses for Vuma, his wife and four kids against the DPC's policy which stipulates that the holiday benefit only caters for the DPC employee and their spouse.
Vuma was granted $10 000 bail when he appeared before Harare magistrate Stanford Mambanje on Friday facing charges of criminal abuse of office.
He was remanded to August 17.
The DPC was represented by Amos Moyo, the board chairperson.
The DPC was established by government in 2003 to protect depositors against loss of their insured deposits placed with member institutions.
Vuma (54) allegedly used to travel abroad on official business with his wife Roselene Nyarai Chabikwa at the expense of DPC.
According to investigations by the Zacc, on September 8, 2019 the PDC was invited to attend the 18th International Association of Deposit Insurers Annual General Meeting Conference from October 7 to 11 in 2019 in Istanbul, Turkey.
Vuma and Mike Chingosho, the former finance and administration director were chosen to attend the event.
As per procedure, the DPC wrote to the Office of the President and Cabinet seeking Cabinet authority for Vuma and Chingosho to travel to Turkey.
The Cabinet authority was granted on September 16, for the two to travel to Turkey from October 4, returning on the 13th.
Investigations revealed that on September 18, Vuma instructed Rudo Petronella Marimbe, the policy research and international affairs officer, to include his wife on the trip even though she was not included on the Cabinet authority itinerary.
It is alleged on September 20, the DPC paid US$2 019 to cater for Vuma's wife's travel expenses to Turkey.
In terms of Treasury Circular No 14 of 1998, all government employees who travel outside the country on business receive travel and subsistence allowances to cater for their expenses while on business.
In terms of the DPC foreign travel policy, if the period spent outside is reduced for whatever reason, the unutilised foreign currency must be returned within four days after return to Zimbabwe.
Investigations revealed that Vuma left the country on October 8, 2019 when the conference was well underway in Turkey.
He returned to Zimbabwe on October 14, 2019 implying that the accused had US$1 715.00 in the form of unused foreign currency, which he was supposed to return to the DPC.
Vuma is said to have converted the money to personal use.
On July 17, 2019 Vuma allegedly caused the DPC to pay for his wife and four children with airfare and accommodation for his international holiday in Dubai from August 9 to 13 in violation of set policies.
The DPC was made to pay US$3 994 towards holiday expenses for Vuma, his wife and four kids against the DPC's policy which stipulates that the holiday benefit only caters for the DPC employee and their spouse.
Vuma was granted $10 000 bail when he appeared before Harare magistrate Stanford Mambanje on Friday facing charges of criminal abuse of office.
He was remanded to August 17.
The DPC was represented by Amos Moyo, the board chairperson.
Source - The Standard
