The director of Super-C Group Private Limited, Alvin Nyaradzai Muparutsa, has appeared in court facing allegations of fraud involving a US$160,000 loan facility.
Muparutsa was granted bail of US$1,000 and ordered to surrender his passport to the court clerk as part of the bail conditions.
The complainant in the matter is EmpowerBank Limited, represented by its recoveries officer, Itai Mutayi.
Super-C Group Private Limited, a company registered with the Registrar of Companies, operates as a holding entity with a subsidiary known as Classic Superfoods Private Limited.
According to the State, in May 2024 Muparutsa, acting on behalf of Super-C Group, applied for a loan facility of US$160,000 from EmpowerBank.
The loan was intended to provide working capital for maize milling operations at 176 Erith Road in Willowvale.
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On May 31, 2024, Muparutsa signed a formal loan agreement with EmpowerBank Limited and also signed an acknowledgement of debt.
Before the loan was disbursed, the bank required collateral to secure the facility.
Prosecutors allege that Muparutsa misrepresented the ownership of several assets, including a Hino Ranger truck, a Volvo FL6 truck and a milling plant, claiming they belonged to Super-C Group.
However, investigations later revealed that the assets were registered under the subsidiary company, Classic Superfoods Private Limited.
Based on the alleged misrepresentation, the loan was approved and EmpowerBank transferred US$160,000 to Super-C Group in accordance with Muparutsa’s instructions.
The alleged fraud came to light after Muparutsa failed to service the loan.
When the bank attempted to claim the pledged collateral, it reportedly discovered that the assets were not owned by Super-C Group as initially represented.
As a result, the complainant allegedly suffered a financial loss of US$160,000, with no recovery made to date.
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