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Businessman in $4,2m money-laundering scam

19 Feb 2020 at 06:39hrs | Views
The director of a construction company in Harare has been arrested on charges of money-laundering and fraud involving over $4,2 million.

Tempter Tungwarara of Paulos Construction yesterday appeared before magistrate Rumbidzai Mugwagwa, who remanded him to March 27, pending finalisation of investigations.
Tungwarara allegedly misrepresented to first complainant Rumbidzai Bushu that he had the capacity to make payments for purchases made outside the country.

Allegations are that on  May 15 last year, Bushu entered into an agreement with Tungwarara to transfer $1 500 000 into his Standard Chartered bank account in return for US$300 000 at the prevailing interbank rate.

The State alleges that Tungawarara became evasive after failing to deliver on the promise, prompting Bushu to file a police report.

The second complainant is Solutions Motors represented by its director Edwin Siyawamwaya.

Allegations are that sometime in June last year, Siyawamwaya wanted to purchase 15 Toyota Hilux trucks from Godrich in South Africa after winning a  Fidelity Printers and Refiners tender.

The vehicles were valued  at ZAR1 896 000 and Siyawamwaya engaged Tungwarara to facilitate the payments in South Africa. It is alleged that on June 26, Siyawamwaya made three payments amounting to $960 000 to Tungwarara's bank account.

The State alleges that Siyawamwaya then gave Tungwarara another US$40 000 and supplied him with details of Godrich's FNB bank account where the payment for the cars was to be deposited.

After receiving the money, Tungwarara allegedly became evasive and never made the payment to South Africa as agreed. He was arrested, but nothing was recovered.

Tungwarara also faces a further charge of fraud and money-laundering after allegedly defrauding Optwise Investments, Oakwood Hardware, Cumdis (Pvt) Ltd, Kenac Computer System and Quantum Black (Pvt) Ltd to the tune of $1 781 200.

Source - newsday
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