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Cash transfer agency boss in US$286k theft storm

Local News
The owner of the property, however, got frustrated and terminated the deal after failing to receive the money within the agreed time frame.

THE chief executive officer  of a local money transfer agency, Kuva Cash Private Limited, has appeared at the Harare Magistrates Court on theft charges involving US$286 000.

Tendai James Saruchera was on Monday released on US$500 bail by magistrate Patricia Kamwanda who remanded the matter to December 16.

The complainant, Paidamoyo Kuruneri, alleges that sometime early this year she engaged Kuva Cash Private Limited to transfer US$286 000 to the United Kingdom-based owner of a Borrowdale house that she wanted to buy.

She allegedly paid the money on October 5 and was issued with a receipt. Saruchera later allegedly converted the money to own use instead of wiring it to the property owner.

The owner of the property, however, got frustrated and terminated the deal after failing to receive the money within the agreed time frame.

Suspecting foul play, Kuruneri confronted staff at the cash transfer agency demanding a refund, leading to Saruchera’s arrest.

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