Munyaradzi Mashiri
Zim Now Court Correspondent
The director of Falcon Safaris, Hamilton Mandizvidza, 44, has appeared at the Harare Magistrates' Court facing charges of theft of trust property amounting to US$170,000.
Mandizvidza, a resident of Victoria Falls, is accused of misappropriating funds entrusted to him by Pride Murengwe, his business partner and the director of Market Financial Services Private Limited.
The State alleges that on June 20, Mandizvidza received US$295 000 into Falcon Safaris’ ABSA account from Foxworth Consulting, based in the United States. The funds were designated for the procurement of raw materials and services in Dubai, China, and the United Kingdom, with Mandizvidza facilitating the payments on a commission basis.
However, Mandizvidza reportedly only disbursed US$125 000 for the intended purpose and allegedly converted US$170,000 for personal use. To conceal the misappropriation, he is accused of generating fake payment receipts, which did not correspond to actual transfers to the intended recipients.
Murengwe, after multiple unsuccessful attempts to obtain accountability from Mandizvidza, reported the matter to the police. Following investigations, Mandizvidza was arrested on December 3.
The accused is set to reappear in court on February 11, 2025.
Former RBZ Governor, Gideon GonoZim Now ReporterThe ZWL$137 million fraud case against Beverly and Clark Makoni, involving former Reserve Bank of Zimbabwe governor Gideon Gono, took a dramatic turn ..
ZimbabweOscar J JekeZim Now ReporterZimbabwe Platinum Mines, the nation's leading platinum group metals producer and largest corporate taxpayer, has reported an 11% year-on-year decline in mined volumes for..
ZimbabweRutendo MazhinduZimNow ReporterENVIRONMENT, Climate and Wildlife Minister Dr Evelyn Ndlovu has called for immediate and coordinated action to tackle climate change, warning that delayed responses wi..
Zimbabwe
Leave Comments