Suspended NetOne CEO, board member arrested

Tendai Kamhungira

THE Zimbabwe Anti- Corruption Commission (Zacc) has arrested suspended NetOne chief executive officer Lazarus Muchenje and board member Paradzai Chakona on allegations of undervaluing the rentals of a company house in Borrowdale.
Zacc spokesperson John Makamure confirmed the arrest yesterday, but was still to get further details on the issue.
“There have been some arrests. Waiting for full details,” Makamure said in a terse response.
Zacc chairperson Loice Matanda-Moyo also confirmed to the Daily News that they had been investigating the case, but when the arrest took place, she was attending a meeting.
“I know that it’s a case that we have been investigating, but right now, I am attending a meeting and I am not in a position to confirm if they have been arrested as yet or not,” Matanda-Moyo said.
However, speaking to the Daily News soon after his arrest, while at Avondale Police Station, Chakona said the allegations against him were that he had signed a lease agreement for Muchenje’s house without board approval, even though he argued the approval was there and had been signed by the previous board.
Chakona is accused of having approved the payment of $1 000 instead of the recommended US$3 500 stated by the company without being mandated to do so by the board.
It is further alleged that the undervaluing of the property caused a substantial loss to the company.
Muchenje, on the other hand, was accused of purchasing furniture worth $600 000 without obtaining purchase orders in direct contravention of company procurement policy and procedures.
The two are expected to appear in court today.

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