RUTENDO NGARA
HARARE provincial magistrate Jacqualine Gara yesterday sentenced a ZWL3 million corporate fraudster to 210 hours of community service.
Shingai Faranisi was convicted following a full trial.
In handing down the judgment, the court ruled that because it was the first time Faranisi had committed an offence, he deserved leniency.
He was jailed for 16 months, with four months suspended for five years on condition of good behaviour.
A further six months were suspended on condition that he pays back US$5 000 to the company, Farevic Systems, as restitution.
The remaining six months were suspended on condition that he performs 210 hours of community service.
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 alongside the accused.
It was further agreed that for every transaction made at the bank, both signatories should sign a signature card.
Samples of the signatures and specific signing instructions were held at FBC Bank, stating that both signatories must sign off on any transaction.
The court heard that on October 22, 2022, Faranisi went to the Victoria Falls branch of FBC Bank and withdrew ZWL$3 240 000 from the Farevic Systems account, transferring it to a Tambwari Logistics account without the knowledge or consent of the company’s other signatory.
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.