News / National
ZACC swoops on tobacco board chair, ex-CEO
24 Aug 2024 at 11:53hrs | Views
Zimbabwe's anti-corruption body, the Zimbabwe Anti-Corruption Commission (ZACC), arrested Tobacco Industry and Marketing Board (TIMB) chairperson Patrick Devenish last night over a dubious US$400,000 loan advanced to Agriculture Minister Anxious Masuka.
Devenish and former TIMB CEO Meanwell Gudu, who was recently acquitted of fraud charges, are alleged to have processed the loan improperly.
Devenish spent the night at Avondale Police Station and faces accusations of unlawfully approving the loan.
The case details were reportedly leaked by TIMB's acting CEO, Emmanuel Matsvaire, who is vying for the permanent CEO position, a role Devenish has previously resisted.
It remains unclear whether Masuka, a top-performing cabinet minister recognized by President Emmerson Mnangagwa, will face arrest. The ZACC has yet to clarify their stance on his involvement.
Devenish and former TIMB CEO Meanwell Gudu, who was recently acquitted of fraud charges, are alleged to have processed the loan improperly.
The case details were reportedly leaked by TIMB's acting CEO, Emmanuel Matsvaire, who is vying for the permanent CEO position, a role Devenish has previously resisted.
It remains unclear whether Masuka, a top-performing cabinet minister recognized by President Emmerson Mnangagwa, will face arrest. The ZACC has yet to clarify their stance on his involvement.
Source - newzimbabwe
