A former Client Relationship Manager at Central African Building Society has been sentenced to an effective four-year prison term after defrauding the financial institution of US$182,758.
Talent Tarisai Zimbindi, 39, was convicted at the Harare Magistrates' Court after it was established that he abused his position at the bank to illegally divert loan funds meant for corporate clients.
According to court records, the offence occurred between August and October 2024 while Zimbindi was employed as a Client Relationship Manager. During that period, he processed loan facilities that were intended for legitimate corporate borrowers but instead redirected the funds to an account belonging to Rozim Mining (Private) Limited, a company he controlled.
“The accused abused his position of trust by processing loan facilities meant for corporate clients and diverting the funds to an account belonging to a company he controlled,” the court heard.
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Investigations revealed that after transferring the money to the company’s account, Zimbindi withdrew the funds for his personal use. The fraudulent activities came to light when discrepancies were detected in the bank’s records, prompting an internal review and subsequent investigations.
“Investigations confirmed that a total of US$182,758 had been unlawfully diverted and none of the funds were recovered,”said the prosecutors
The court initially sentenced him to 10 years in prison. However, three years were suspended for five years on condition of good behaviour, while another three years were suspended on the condition that he restitutes the victim.
This leaves him with an effective four-year custodial sentence.
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