PRESIDENT Emmerson Mnangagwa’s son, Tarirai David Mnangagwa, was allegedly duped of US$4 million after he was booted out a company which he co-funded.
The directors of Hozheri Stone Crushers Private Limited
have already appeared in court where they were granted $20 000 bail each by
Harare magistrate Judith Taruvinga, who remanded them to November 27.
The accused, Elizabert Mushiringi, Chad Cecil Mupandanyama
and Alec Mawere, who were represented by Tatenda Ndhlovu and Reginald
Chidawanyika, were charged with fraud.
Allegations are that on September 29, 2017 Mushiringi and
Mupandanyama registered a company called Wozheri Stone Crushers Private Limited
with the Registrar of Companies under number 8640/2017.
According to their memorandum of association, Mnangagwa was
a major shareholder with a 60% stake, Mushiringi had 5% while 15% were
controlled by Mupandanyama.
It is alleged Mushiringi and Mupandanyama owned 40% on
registration, but only took 20% indicating they would allot the remaining
shares later.
Since the formation of the company in 2017, Mnangagwa took
on his role of financier and was tasked to scout for other investors.
It is the State’s case that on July 2, 2018, Mushiringi and
Mupandanyama after realising that Mnangagwa had brought in viable investment in
the company, allegedly connived to boot him out of the company.
The State alleges Mushiringi and Mupandanyama allegedly
fraudulently removed Mnangagwa from the directorship and replaced him with
Mawere and updated the records at the Registrar of Companies.
It is alleged when the complainant was removed, he was
never told of the development and he continued rendering services to the
company.
On October 10 this year, during the verification of account
opening at CBZ Bank, the complainant got to know that the accused persons had
used fake company documents to resign him from the company, which then prompted
him to report the matter to the police.
Armed with a warrant of search, detectives from Commercial
Crimes Division proceeded to Gweru and seized the company documents used in the
commission of the offence.
The State alleges Mnangagwa suffered a prejudice of US$4
million of the investment due to the accused person’s misrepresentation. Newsday
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