Moyo allegedly misrepresented to Mr Moses Ruwona that he
had secured a tender to buy tobacco for export, when in fact he was offsetting
a debt with Northern Tobacco (Pvt) Ltd arising from a contract grower agreement
between the two, with the intention of redeeming his property and using it to
secure another loan with NMB Bank. Mr Ruwona is managing director of Tambwari
Logistics (Pvt) Ltd.
Moyo appeared before Harare magistrate Mr Stanford Mambanje
charged with fraud and was given US$500 bail and returns to court on May 8.
Prosecutor Mr Lancelot Mutsokoti alleged that on July 1,
2022, Moyo, representing Nhimbe Fresh Exports Ltd, entered into a contract
grower agreement with Northern Tobacco Ltd. He offered his large Highlands
stand measuring 9 220 square metres valued at US$400 000 as a surety mortgage
bond.
Sometime in December 2022, Moyo secured another loan
facility with NMB Bank and surety was required for the loan facility to be
processed. Moyo allegedly devised a plan to defraud Mr Ruwona in order to get
money to pay off the initial loan that he had taken.
He allegedly misrepresented to Mr Ruwona that he had
secured a tender from Northern Tobacco to buy raw tobacco for export, but had
no funds. Moyo allegedly claimed that after payment of US$350 000, the product
would be ready for export within 14 days and Mr Ruwona would get 10 percent
share of profits upon export. On January 4 last year, Mr Ruwona met Moyo at a
bank in Borrowdale and deposited US$332 900 into the same Northern Tobacco
Stanbic Bank account. After full payment was made, Mr Ruwona waited for the
delivery of the tobacco for export but nothing materialised. Herald
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