War vets company duped US$13,000

Four directors of Zvimba East Veterans Investment Company appeared before Harare magistrate Lisa Mutendereki recently, facing allegations of defrauding the company of US$13,000 through forgery. The accused - Douglas Mandaza (57), Clifford Rutsate (68), Joel Samuel Muzhamba (76), and Michael Changadzo (66) - were represented by attorney Leon Muringani as their trial continued.

According to court reports, the Zvimba East Veterans Investment Company was established in 2023 with a 14-member board of directors, including the accused. Company procedures mandated that any bank withdrawals be authorized by the chairperson or vice-chairperson along with two additional signatories.

The prosecution alleges that on January 2 of this year, the four accused directors removed five of their fellow directors from the company's CR6 form, leaving only nine directors listed. This alteration allegedly allowed them to submit a forged CR6 form to the bank, which enabled changes in the company's signing authority and access to funds.

The alleged forgery came to light when the complainant discovered discrepancies at the bank and reported the matter to the police, leading to the arrest of the four directors.

The trial is set to continue on October 30.