MA Auto Spares co-director Michael Smith in court ...

MA Auto Spares co-director Michael Smith in court over US$11k transaction

Zim Now Writer

MA Auto Spares co-director, Michael Smith last Friday appeared before Harare magistrate Dennis Mangosi facing charges of corruptly concealing a transaction worth US$11 000 and R124 000 from his fellow director.

He is also likely to face more fraud charges.

Mangosi granted Simth ZWL$100 000 bail.

It is alleged that sometime in October 2019, an MA Auto Spares fellow director, who is the complainant, left for Australia and failed to return due to Covid-19 restrictions in place then until September this year.

On his return, it is alleged, he discovered that the company was paying its South African suppliers through a third party, Mant Procurement [Pvt) Ltd, a South Africa-registered company owned by Smith and his South Africa-based friend, Tony Oatley.

Smith had not disclosed this arrangement to his co-director.

MA Auto Supplies later discovered that Mant Procurement was overcharging the company and, as a result, they were prejudiced of over R100 000.

In February last year, Smith reportedly imported two tents using MA Auto Suppliers (Pvt) Ltd’s resources under the pretence that the tents belonged to the company but sold them to Ms Horsley for US$1 800 before converting the money to his own use.

Again in October, Smith used the same modus operandi to import a Station Wagon Rear Bumper and RHS Carrier and the customer paid R24 259.83 directly into Mant Procurement (Pvt) Ltd’s FNB account.

Smith was on another occasion authorised by the complainant to sell their Toyota Land Cruiser to his son for US$7 500 but he allegedly released the vehicle after receiving only US$2 000, leading to the company being prejudiced of US$5 500.

At another time Smith, it is alleged, attempted to sell three tool boxes to MA Auto Supplies when they already belonged to the company, which prejudiced the company of US$3 300.