MUNYARADZI Kereke, a former adviser to the Reserve Bank of Zimbabwe governor, was yesterday granted US$200 bail in a case in which he is accused of fraud involving US$400 000.
Kereke, who is being charged together with suspended Harare Municipal Medical Aid Society (HMMAS) chief executive officer Everisto Rukasha, was granted bail by Harare regional magistrate Marehwanazvo Gofa.
“Since both of the accused are on bail pending trial, it shows that they have never flouted bail conditions granted to them by the higher courts. To say they are flight risks when they have never shown any intention to flee does not hold water,” Gofa said.
Allegations are that sometime in early 2014, Rukasha and Kereke agreed to enter into an agreement, whereby the latter would sell his immovable property, Fortress Hospital located at number 9653 Ruwa Township, Chipukutu, Sebastopol, to HMMAS.
Kereke then appointed one Newton Madzika, the managing director of Health Body Images (Pvt) Ltd, to conduct the transaction on his behalf.
On November 7, 2014, HMMAS met its obligation by depositing the full purchase price of US$800 000 into Health Body Images’ bank account.
On March 18, 2022, Rukasha allegedly connived with Kereke to defraud HMMAS. Kereke wrote to HMMAS misrepresenting that the latter still owed him US$400 000 for the purchase of the property.
Kereke then approached the HMMAS board threatening to repossess the property which was still in his name and made it clear to it that he was still in possession of the title deeds to the property.
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Resultantly, HMMAS authorised payment towards the liquidation of the fraudulently-generated debt.
The duo were remanded to December 13 pending trial.
