A businessman Shingai Levison Muringi has been charged with fraud and money laundering after allegedly reversing a payment for fuel from Rakbury Investments. Muringi, the director of Last King (Pvt) Ltd, a company which is into fuel supply, allegedly transferred US$85 000 to Rakbury before reversing the transfer and purchasing a Toyota Hilux for US$70 000 from the proceeds.
The car was recovered upon his arrest. Muringi denies the charges against him. He spent the weekend in custody and will be back in court today to file his bail bid before Harare magistrate Dennis Mangosi.
Rakbury, which is into commodity broking, is being represented by its director, Thembinkosi Chigwogwana, in this case.
The court heard that on July 19, Chigwogwana was contacted by Phillip Nyamadzawo, a director of Northman Capital (Pvt) Limited, looking for US$85 000 in Zimbabwe, on behalf of Muringi, for the purchase of diesel in return for an equivalent value to be deposited into his Zambian bank.
The court heard that on July 21, Muringi transferred US$85 000 into Rakbury’s Zambian bank account. The US$85 000 was given to Nyamadzawo in three batches of US$25 000, US$50 000 and US$10 000.
Nyamadzawo acknowledged receipt of the money by signing and handed it over to Muringi, who also acknowledged receiving the money. On July 27, Chigwogwana was contacted by the Zambian bank and told that the US$85 000 had been reversed on Muringi’s instructions.
Muringi then allegedly purchased a Toyota Hilux.
Source ZiMetro News
