Masimba Holdings defrauded of US$7350

Michael Mashiri

Contracting firm Masimba Holdings lost US$7349.44 to a clerk who diverted outgoing payments to personal accounts.

Fungai Kutambura, 29, from Marimba Park appeared at the Harare Magistrates Court charged with fraud as defined in Section 136 of the Criminal Law Codification and Reform Act Chapter 9:23.

The complainant, Masimba Holdings Limited was represented by Courage Mhondiwa the Loss Control Officer.

Kutambura is a former cash book clerk at Masimba Holdings Limited, whose duties included processing payment to suppliers in the banking platform after authorization.

An internal audit on September 26, 2022, revealed that Kutambura had made transactions purporting to have paid Silica Mining Consumables and Premier Billiards whereas the money had been directed to individual accounts.

On September 5 Kutambura paid Silica Mining Consumables into a Standard Chartered Bank account. The payment was duly authorised by the required two signatories, but the payment was rejected in the system because it was in the wrong currency.

On September 6, Kutambura initiated payment of US$6 049-44 from the company's Standard Chartered Bank account to an individual CBZ account belonging to Festus Hwenhira.

In the system Kutambura declared that the payment was going to Silica Mining Consumables, a valid supplier.

Working upon the misrepresentation, the finance director approved the transaction.

On the 13th of the same month Kutambura transferred another US$1 300 from the company's Standard Chartered Bank account into a Stanbic bank account number belonging to Takudzwa Chitsaka.

For that transaction he named another valid supplier, Premier Billiards as the recipient in the system. Again, the finance director approved the transaction.

As a result Masimba Holdings Limited lost US$7 349-44 and nothing was recovered.

Magistrate Evelyn Mashavakure who presided over the case set bail at ZWL$100 000 bail pending finalization of investigations.

She ordered Kutambura to return to court on February 14, 2023