The Zimbabwe Anti-Corruption Commission has arrested Tobacco Industry and Marketing Board chairperson Patrick Devenish and former TIMB CEO Meanwell Gudu over various charges including a US$400,000 loan advanced to Agriculture Minister Anxious Masuka.
Devenish and Gudu are alleged to have connived to process a loan for Masuka without going through proper procedures.
In a similar case, in 2023 then Public Service, Labour and Social Welfare minister Paul Mavima stood accused of manipulating the National Social Security Authority to buy a S$400 000 Borrowdale property in a questionable US$400 000 disbursement.
Mavhima reportedly got NSSA to protect the property from him while he awaited disbursement of his US$500 000 ministerial housing loan.
In a related case, Devenish and Gudu are also accused of fraudulently advancing a loan facility of US$494 873.00 to Ultime Accolade Private Limited without the knowledge of other TIMB Board members and a Board resolution.
The alleged fraudulent transaction occurred in May 2021, and the loan facility was reportedly disbursed without any security or guarantee. Investigations by ZACC revealed that the funds were used to purchase vehicles for Ultime Accolade Private Limited.
Devenish and Gudu appeared before a Harare Magistrate Court on Friday and were remanded in custody. Their next court appearance is scheduled for September 6, 2024
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