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Zimbabwe-based Indian millionaire acquitted
16 Feb 2023 at 01:57hrs | Views
A Zimbabwe-based Indian businessman tycoon Munir Kazi is now a free man after he was acquitted by the court on charges of defrauding foreign currency traders of US$765 000.
Magistrate Vongai Muchuchuti-Guwuriro cited a lack of compelling evidence when she upheld Kazi and his co-accused, Andre Hoffman's application for discharge.
Muchiuchuti also ruled that the foreign currency dealers approached the court with dirty hands. The foreign currency deal, she said, if ever it existed, was an illegal transaction.
She said no one would genuinely just give away such large sums of money without signing any document, more so, to someone they met on the same day and did not have a close relationship with.
The magistrate blasted the State for leading completely undependable evidence from the forex dealers who were complainants in the case. The complainants, the court ruled, to make matters gave contradictory.
Muchuchuti also said none of the foreign currency dealers confirmed giving the money to Kazi.
According to the State case, on October 28, 2021, Kazi and Hoffman connived with Shingirai Muringi to fleece the forex dealers.
Muringi then allegedly approached Charles Nyamunda Jounet, a forex dealer and misrepresented that they could provide large sums of money in local currency in exchange for United States dollars. He allegedly said they wanted to buy US$765 000 in exchange for $17 212 500.
It is alleged that Jounet said he didn't have enough US dollars and was advised by Muringi to source more from other foreign currency traders.
Jounet allegedly contributed US$28 000, Codwell Muhoni US$100 000, Wisdom Hodzi US$51 000, Rodney Makarutsa US$35 000, Benard Nyangoni US$50 000, Nyevero Chibisa US$87 000, Tinashe Kadzunge US$65 000 and Henry Abraham US$349 000.
Muringi, on the same day, allegedly introduced Jounet, Hodzi and Makarutsa to Hoffman in Avondale, Harare. Hoffman allegedly told them that Kazi would transfer money into their bank accounts, which was now done, forcing them to report the matter to the police.
Kazi last year applied to have his matter separated from Muringi, who is yet to appear in court to answer charges on the fraud case.
Magistrate Vongai Muchuchuti-Guwuriro cited a lack of compelling evidence when she upheld Kazi and his co-accused, Andre Hoffman's application for discharge.
Muchiuchuti also ruled that the foreign currency dealers approached the court with dirty hands. The foreign currency deal, she said, if ever it existed, was an illegal transaction.
She said no one would genuinely just give away such large sums of money without signing any document, more so, to someone they met on the same day and did not have a close relationship with.
The magistrate blasted the State for leading completely undependable evidence from the forex dealers who were complainants in the case. The complainants, the court ruled, to make matters gave contradictory.
Muchuchuti also said none of the foreign currency dealers confirmed giving the money to Kazi.
Muringi then allegedly approached Charles Nyamunda Jounet, a forex dealer and misrepresented that they could provide large sums of money in local currency in exchange for United States dollars. He allegedly said they wanted to buy US$765 000 in exchange for $17 212 500.
It is alleged that Jounet said he didn't have enough US dollars and was advised by Muringi to source more from other foreign currency traders.
Jounet allegedly contributed US$28 000, Codwell Muhoni US$100 000, Wisdom Hodzi US$51 000, Rodney Makarutsa US$35 000, Benard Nyangoni US$50 000, Nyevero Chibisa US$87 000, Tinashe Kadzunge US$65 000 and Henry Abraham US$349 000.
Muringi, on the same day, allegedly introduced Jounet, Hodzi and Makarutsa to Hoffman in Avondale, Harare. Hoffman allegedly told them that Kazi would transfer money into their bank accounts, which was now done, forcing them to report the matter to the police.
Kazi last year applied to have his matter separated from Muringi, who is yet to appear in court to answer charges on the fraud case.
Source - Byo24News
