Matutu faces allegations of company theft via forg...

Matutu faces allegations of company theft via forged document

Munyaradzi Mashiri

Zim Now Court Correspondent

A 38-year-old man, Lewis Matutu, has been arraigned at the Harare Magistrates’ Courts on charges of fraud involving US$150 000. He is scheduled to appear in court again on January 6, 2025.

The complainant, Joseph Sibanda, director and shareholder of Shusib Investments Private Limited, alleges that Matutu orchestrated a scheme to fraudulently acquire shares in the company and subsequently misappropriate its assets.

According to the State, Shusib Investments was established in 2012 by Sibanda and a relative to operate as manufacturers and general dealers in industrial, mining, and domestic hardware. The company was registered under reference number 6727/12, with Sibanda and his partner serving as its initial directors.

The company issued 2,000 ordinary shares upon registration, with 1,998 shares allocated to the company, and one share each to Sibanda and Lyton Shumba, who was also the company secretary.

In 2013, Sibanda shifted focus to mining and secured a lease agreement with the Department of Parks and Wildlife to mine minerals in the Shamva/Mufurudzi area. Under this arrangement, the department was entitled to 15% royalties for the 25-year lease.

To support youth empowerment, Sibanda and his partner later brought in additional stakeholders, including a youth-focused entity, Pambili Investments Corporation, which was allotted 240 shares. Mining operations commenced shortly thereafter, with Sibanda leading the project as other shareholders became inactive.

In 2018, Matutu, along with Blessing Kusangaya, Tafadzwa Kusangaya, Muzimba Muhamba, Chilkwasha Muhamba, and others still at large, allegedly devised a plan to seize control of Shusib Investments. The group is accused of falsifying annual returns for the years 2014, 2016, 2017, and 2018, forging signatures of Sibanda and Shumba. These falsified documents reportedly portrayed Matutu and his accomplices as majority shareholders and directors.

Using these falsified documents, Matutu allegedly called an Annual General Meeting on November 19, 2018, during which he removed Sibanda from his directorship and changed the company’s address. The State contends that this maneuver allowed Matutu and his associates to claim ownership of the company’s assets, valued at US$150,000.

The fraudulent activities were uncovered on September 30, 2024, when the Department of Parks and Wildlife informed Sibanda that mining operations had been suspended. The department cited instructions from Matutu and his group, who claimed they had agreed as shareholders to sell the mining claim.

Matutu’s co-accused have already appeared in court under CRB 10573-74/24, and investigations into the involvement of other individuals are ongoing.