Director facing 16 counts of fraud remanded to Jul...

Director facing 16 counts of fraud remanded to July

Harare Magistrates Courts - NewsDay Zimbabwe

The trial date for MA Auto Spares director, Michael Smith, who is accused of 16 counts of fraud and theft of trust property has been set for July 20.

Smith appeared before Harare magistrate Denis Mangosi yesterday.

The complainant is Michael Asher, a shareholder and co-director at MA Auto Spares, based in Australia.

Prosecutors said Smith failed to disclose to Asher that the company was paying its South African suppliers through a third party.

Smith is also accused of allegedly importing goods under the impression that they belonged to MA Auto Spares, before selling them for personal gain.

He then failed to account for service charges received from friends and relatives.

Smith is currently out on $100 000 bail.

As part of his alleged criminal escapade, Smith allegedly imported two tents, a Station Wagon Rear Bumper and RHS Carrier under the impression that they belonged to MA Auto Spares.

He then sold them for personal gain.

Additionally, Smith is expected to defend himself for failing to account for US$28 985.72 service charges received from relatives, and friends, after using the company’s resources.

It was the State’s case that sometime in September last year, MA Auto Supplies unearthed that Mant Procurement was overcharging the company and suffered prejudice in excess of R100 000.

Smith allegedly used the same modus operandi to import a Station Wagon Rear Bumper and RHS Carrier.

The customer paid R24 259.83 directly into Mant Procurement (Pvt) Ltd’s FNB account.

On another occasion, Smith was authorised by Asher to sell their Toyota Land Cruiser for US$7 500, which he converted for his own use.

In November 2020, Smith also failed to account for a US$10 000 loan advanced to the company.

Zebediah Bofu appeared for the State.