Rutendo Ngara
A CONVICTED fraudster faces sentencing today for stealing more than ZWL$3,2 million from his Harare employer.
Harare provincial magistrate Jacqueline Gara is expected to hand down sentence for the convicted fraudster Shingai Faranisi.
The State proved that on September 29, 2022, the shareholders of Farevic Systems held a meeting and agreed that Duduzile Mungure should be a signatory to all Farevic Systems bank accounts together with the accused.
It was further agreed that for every transaction made at the bank both signatories should sign a signature card and samples of signatories and signing instructions were held at FBC Bank stating that both signatories should sign on any transaction.
The court heard that on October 27, 2022, Faranisi went to FBC Bank, Victoria Falls branch, and withdrew ZWL$3 240 000 from the Farevic Systems account and transferred it to the Tambwari Logistics account without the knowledge or consent of the other signatory of the company.
As a result of Faranisi’s misrepresentation to the bank, the company suffered a total prejudice of ZWL$3 240 000 and nothing was recovered.