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Gono's suspected fraudsters' case latest
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Regional Magistrate Stanford Mambanje upheld the State's application to tender a deed of settlement related to a high-profile fraud case involving former Reserve Bank of Zimbabwe governor Gideon Gono's company and Clark Clever and Beverly Aisha Ndonda Makoni, who are accused of fraudulently transferring a property they managed into their names.
During a court session yesterday, the Makonis' defense counsel, Admire Rubaya, vigorously opposed the State's move to introduce the deed of transfer into evidence. Despite this opposition, Magistrate Mambanje ruled that the document was pertinent to the case, allowing the trial to proceed with the next hearing set for October 14.
The couple is alleged to have prejudiced Galwex Investments of a staggering ZWL$137,736,500. The trial began last month, with prosecutor Heather Muwokoto leading evidence from George Mashonganyika, a special projects executive at Gono's Galwex Investments.
Mashonganyika detailed how the Makonis were appointed to manage Valley Lodge, a property owned by Galwex, but reportedly abused their positions by altering the company's directorship and making unauthorized withdrawals from its bank account in 2017.
According to the testimony, Costick Investments (Pvt) Ltd sold all its shares in Lizack and Valley Lodge to Galwex Investments (Pvt) Ltd on October 30, 2009. Subsequently, in 2017, Mashonganyika assigned Ark Properties, owned by the Makonis, to act as estate agents for Valley Lodge (Pvt) Ltd.
In August 2017, it is alleged that Clark Makoni devised a scheme to defraud Galwex by changing the directorship of Valley Lodge without the company's consent. A spot check in October 2023 revealed that the couple had indeed made these fraudulent changes and had illegally made themselves signatories to the account.
The court learned that the Makonis were entitled only to commissions from their management role but ended up drawing salaries from Valley Lodge. Clark Makoni allegedly produced a counterfeit CR14 form to assert ownership and directorship over Valley Lodge; however, an investigation showed that the legitimate directors were Ayoob Omar and Mohamed Hussein Omar.
Mashonganyika emphasized that transferring directorship was impossible at the time due to unresolved clauses in the property sale agreement, and that Clark Makoni made several unauthorized withdrawals from Valley Lodge's account, culminating in a loss of ZWL$137,736,500 from January 2022 to September 2023.
Furthermore, he testified that the Makonis attempted to negotiate a settlement with Galwex to restore the directorship to its rightful owners, proposing to compensate them with US$50,000 through a signed deed of settlement.
The case continues to unfold as the court prepares for further proceedings next month.
During a court session yesterday, the Makonis' defense counsel, Admire Rubaya, vigorously opposed the State's move to introduce the deed of transfer into evidence. Despite this opposition, Magistrate Mambanje ruled that the document was pertinent to the case, allowing the trial to proceed with the next hearing set for October 14.
The couple is alleged to have prejudiced Galwex Investments of a staggering ZWL$137,736,500. The trial began last month, with prosecutor Heather Muwokoto leading evidence from George Mashonganyika, a special projects executive at Gono's Galwex Investments.
Mashonganyika detailed how the Makonis were appointed to manage Valley Lodge, a property owned by Galwex, but reportedly abused their positions by altering the company's directorship and making unauthorized withdrawals from its bank account in 2017.
According to the testimony, Costick Investments (Pvt) Ltd sold all its shares in Lizack and Valley Lodge to Galwex Investments (Pvt) Ltd on October 30, 2009. Subsequently, in 2017, Mashonganyika assigned Ark Properties, owned by the Makonis, to act as estate agents for Valley Lodge (Pvt) Ltd.
In August 2017, it is alleged that Clark Makoni devised a scheme to defraud Galwex by changing the directorship of Valley Lodge without the company's consent. A spot check in October 2023 revealed that the couple had indeed made these fraudulent changes and had illegally made themselves signatories to the account.
The court learned that the Makonis were entitled only to commissions from their management role but ended up drawing salaries from Valley Lodge. Clark Makoni allegedly produced a counterfeit CR14 form to assert ownership and directorship over Valley Lodge; however, an investigation showed that the legitimate directors were Ayoob Omar and Mohamed Hussein Omar.
Mashonganyika emphasized that transferring directorship was impossible at the time due to unresolved clauses in the property sale agreement, and that Clark Makoni made several unauthorized withdrawals from Valley Lodge's account, culminating in a loss of ZWL$137,736,500 from January 2022 to September 2023.
Furthermore, he testified that the Makonis attempted to negotiate a settlement with Galwex to restore the directorship to its rightful owners, proposing to compensate them with US$50,000 through a signed deed of settlement.
The case continues to unfold as the court prepares for further proceedings next month.
Source - newsday
