Former Zanu PF youth leader Lewis Matutu appears in court for share theft

 

Zim Now Writer

 Lewis Matutu, the former Zanu PF youth leader, appeared in court on Tuesday to face allegations of stealing shares from a local mining company, Shusib Investments. Matutu was arraigned before Harare Magistrate Isheanesu Matova and was released on free bail.

 According to the prosecution, Matutu conspired with several accomplices, including Blessing, Tafadzwa Kusangaya, Muzimba, and Chikwasha Muhamba, to misappropriate shares from Shusib Investments, which is headed by Avurath Sibanda. The alleged fraudulent activity dates back to 2018, when the group reportedly prepared and filed false annual returns with the Registrar of Companies.

The scheme allegedly involved forging signatures and falsely indicating changes in shareholding and directorship, allowing the accused to allocate themselves shares and become majority shareholders. The complainant reportedly suffered a financial loss of US$150,000 as a result of the alleged scheme.