News / National
Zimbabwe diplomat defrauded of US$1.3 million in international scam
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Interpol London has confirmed that Richard Kaye, the alleged mastermind behind an elaborate investment scam that defrauded the late Zimbabwean diplomat Ambassador Hurudza Punungwe and his wife of US$1.3 million, operated no legitimate business or bank account in the UK.
The scam, which dates back to 2000, involved Kaye convincing Ambassador Punungwe to invest US$214,233 in a non-existent company, Lloyd Morgan Company (LMC). Posing as a broker, Kaye allegedly acted in collaboration with five accomplices: Professor David McKay, Hendrik Vriesen, Erik Bjertnes Jr, Michiel Eyken-Slyuters, and Penny Willis Jones, also known as Penelope Slan Kaye.
The fraudulent scheme also involved another fictitious company, Thomas Barclay Group (TBG), purportedly based in Belgium and France.
Even after Ambassador Punungwe's death, Kaye reportedly continued the deception, issuing new share certificates in Mrs. Punungwe's name. When she attempted to redeem the investment in 2009, the funds were never returned, exposing the scam's full extent.
Kaye, who remains at large, is believed to be hiding in the UK. Zimbabwean authorities, with support from Interpol and other international law enforcement agencies, have been pursuing him for years.
Recently, Zimbabwe's National Prosecuting Authority (NPA) Head of the Asset and Forfeiture Unit, Mr. Chris Mutangadura, formally requested mutual legal assistance from the UK's Competent Authority.
In response, Interpol's National Central Bureau (NCB) in London confirmed that the Lloyd Morgan Group does not exist and found no trace of associated bank accounts. They recommended further action through an International Letter of Request sent via judicial channels.
Zimbabwean authorities are now preparing the required documentation to escalate the investigation.
The case underscores the devastating financial and emotional toll such schemes impose on victims and their families. The Punungwe family has spent years seeking justice, with significant sums of money lost under the guise of fraudulent investment opportunities.
Kaye's ability to evade justice highlights the challenges of addressing cross-border fraud. Leveraging international jurisdictions, Kaye and his accomplices obscured their tracks, complicating efforts to bring them to justice.
As the investigation gathers momentum, the collaboration between Zimbabwean authorities, Interpol, and UK law enforcement agencies signals a renewed determination to apprehend Kaye and his accomplices.
The case serves as a stark reminder of the need for vigilance against sophisticated fraud schemes and the importance of international cooperation in combatting financial crime.
For the Punungwe family, the pursuit of justice continues, with hope that accountability will finally be achieved.
The scam, which dates back to 2000, involved Kaye convincing Ambassador Punungwe to invest US$214,233 in a non-existent company, Lloyd Morgan Company (LMC). Posing as a broker, Kaye allegedly acted in collaboration with five accomplices: Professor David McKay, Hendrik Vriesen, Erik Bjertnes Jr, Michiel Eyken-Slyuters, and Penny Willis Jones, also known as Penelope Slan Kaye.
The fraudulent scheme also involved another fictitious company, Thomas Barclay Group (TBG), purportedly based in Belgium and France.
Even after Ambassador Punungwe's death, Kaye reportedly continued the deception, issuing new share certificates in Mrs. Punungwe's name. When she attempted to redeem the investment in 2009, the funds were never returned, exposing the scam's full extent.
Kaye, who remains at large, is believed to be hiding in the UK. Zimbabwean authorities, with support from Interpol and other international law enforcement agencies, have been pursuing him for years.
Recently, Zimbabwe's National Prosecuting Authority (NPA) Head of the Asset and Forfeiture Unit, Mr. Chris Mutangadura, formally requested mutual legal assistance from the UK's Competent Authority.
In response, Interpol's National Central Bureau (NCB) in London confirmed that the Lloyd Morgan Group does not exist and found no trace of associated bank accounts. They recommended further action through an International Letter of Request sent via judicial channels.
Zimbabwean authorities are now preparing the required documentation to escalate the investigation.
The case underscores the devastating financial and emotional toll such schemes impose on victims and their families. The Punungwe family has spent years seeking justice, with significant sums of money lost under the guise of fraudulent investment opportunities.
Kaye's ability to evade justice highlights the challenges of addressing cross-border fraud. Leveraging international jurisdictions, Kaye and his accomplices obscured their tracks, complicating efforts to bring them to justice.
As the investigation gathers momentum, the collaboration between Zimbabwean authorities, Interpol, and UK law enforcement agencies signals a renewed determination to apprehend Kaye and his accomplices.
The case serves as a stark reminder of the need for vigilance against sophisticated fraud schemes and the importance of international cooperation in combatting financial crime.
For the Punungwe family, the pursuit of justice continues, with hope that accountability will finally be achieved.
Source - The Herald
