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Bigwig forges Mnangagwa's signature, paid US$600 000
2 hrs ago |
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A Harare business executive has appeared before the magistrates' court facing fraud, extortion and money laundering charges in a case involving the alleged forgery of President Emmerson Mnangagwa's signature to unlawfully obtain more than US$600 000 from a local company and government-linked funds.
Joseph Kanyekanye, executive chairman of Alliance Holdings, appeared before Harare regional magistrate Musaiona Shotgame and was remanded in custody pending a bail hearing set for Monday.
The complainant in the matter is Pharmaceutical and Chemical Distributors (PCD), alongside the Ministry of Finance, which prosecutors say was misled into processing payments based on forged instructions.
The State alleges that between April 14 and April 17, 2026, Kanyekanye acted in collaboration with unnamed accomplices to exert pressure on PCD, demanding payment of funds that were not owed to him.
Prosecutors further claim he falsely stated that the money had been approved by senior Zanu-PF officials for Independence Day preparations in Maphisa, Matabeleland South, and that presidential approval had already been granted.
It is alleged that he warned the complainant of unspecified consequences should they refuse to release the funds, creating fear of financial and reputational harm.
According to the State, this coercion resulted in the transfer of approximately US$663 480.75.
Investigators also allege that Kanyekanye forged payment instructions on a document purportedly signed by President Mnangagwa and submitted it to the Ministry of Finance permanent secretary George Guvamatanga, requesting release of Treasury Bills.
The ministry is said to have acted on the document in good faith, believing it originated from the President's Office, and processed payments accordingly.
Court documents further allege that the funds were channelled through a trust account held by lawyers before being transferred to a CBZ account linked to the accused, under the claim that they were required for official national celebrations.
However, prosecutors argue the money was never used for its stated purpose and instead benefited Kanyekanye and alleged accomplices.
He now faces additional charges of money laundering relating to the same transactions.
The case has been remanded as investigations continue.
Joseph Kanyekanye, executive chairman of Alliance Holdings, appeared before Harare regional magistrate Musaiona Shotgame and was remanded in custody pending a bail hearing set for Monday.
The complainant in the matter is Pharmaceutical and Chemical Distributors (PCD), alongside the Ministry of Finance, which prosecutors say was misled into processing payments based on forged instructions.
The State alleges that between April 14 and April 17, 2026, Kanyekanye acted in collaboration with unnamed accomplices to exert pressure on PCD, demanding payment of funds that were not owed to him.
Prosecutors further claim he falsely stated that the money had been approved by senior Zanu-PF officials for Independence Day preparations in Maphisa, Matabeleland South, and that presidential approval had already been granted.
It is alleged that he warned the complainant of unspecified consequences should they refuse to release the funds, creating fear of financial and reputational harm.
According to the State, this coercion resulted in the transfer of approximately US$663 480.75.
Investigators also allege that Kanyekanye forged payment instructions on a document purportedly signed by President Mnangagwa and submitted it to the Ministry of Finance permanent secretary George Guvamatanga, requesting release of Treasury Bills.
The ministry is said to have acted on the document in good faith, believing it originated from the President's Office, and processed payments accordingly.
Court documents further allege that the funds were channelled through a trust account held by lawyers before being transferred to a CBZ account linked to the accused, under the claim that they were required for official national celebrations.
However, prosecutors argue the money was never used for its stated purpose and instead benefited Kanyekanye and alleged accomplices.
He now faces additional charges of money laundering relating to the same transactions.
The case has been remanded as investigations continue.
Source - The Standard
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