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Prominent businessman remanded over US$208,000 fraud allegations
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Harare businessman Never Mhlanga, chairman of the Zimbabwe Insurance Brokers, has been remanded in custody following allegations of fraud involving US$208,500.
Mhlanga appeared before Harare Regional Magistrate Marewanazvo Gofa, who asked the State to justify its consent to bail.
The complainant, Ludham Investments (Pvt) Limited, is represented by its director and company secretary, Tinashe Able Chimanikire.
According to the allegations, in November last year, Chimanikire discovered a Financial Gazette article stating that Briolette Services (Pvt) Ltd, trading as Mont Clair Hotel and Casino, had been sold to RTG Group for US$5 million. As a shareholder holding 4.17 percent, Ludham Investments had not been consulted in the transaction.
Chimanikire contacted other shareholders, who confirmed that the sale agreement had been signed. He was informed that Mhlanga had acted as Ludham Investments' representative despite having resigned from the firm.
The State claims that Mhlanga's actions resulted in prejudice valued at US$208,500.
Mhlanga appeared before Harare Regional Magistrate Marewanazvo Gofa, who asked the State to justify its consent to bail.
The complainant, Ludham Investments (Pvt) Limited, is represented by its director and company secretary, Tinashe Able Chimanikire.
According to the allegations, in November last year, Chimanikire discovered a Financial Gazette article stating that Briolette Services (Pvt) Ltd, trading as Mont Clair Hotel and Casino, had been sold to RTG Group for US$5 million. As a shareholder holding 4.17 percent, Ludham Investments had not been consulted in the transaction.
Chimanikire contacted other shareholders, who confirmed that the sale agreement had been signed. He was informed that Mhlanga had acted as Ludham Investments' representative despite having resigned from the firm.
The State claims that Mhlanga's actions resulted in prejudice valued at US$208,500.
Source - H-Metro
