FORMER Zanu PF youth league secretary Lewis Matutu on Tuesday appeared at the Harare Magistrates Court facing a charge of fraud.
Matutu is being accused of unlawfully transferring 240 ordinary shares to his name in a company he was entrusted to direct as part of a youth empowerment initiative.
He appeared before Harare provincial magistrate Isheanesu Matova and was remanded out of custody.
The complainant is Joseph Evurath Sibanda, a director and shareholder of Shusib Investments (Private) Limited.
State prosecutor Takudzwa Jambawu said sometime in 2012, Sibanda and his relative Lyton Shumba successfully registered Shusib Investments (Pvt) Limited.
The company had 2 000 ordinary shares.
The court heard that Sibanda later approached the Department of Parks and Wildlife for mineral exploration in the Shamva/Mufurudzi area.
He was granted a 25-year lease.
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Sibanda and his partner then agreed to rope in youths in line with the government youth empowerment agenda.
In the process, Sibanda engaged Matutu, who became a co-director of the company.
A company named Pambili Investments Corporation, representing youths, was also engaged and was allocated 240 ordinary shares.
In 2018, Matutu allegedly connived with Blessing Kusangaya, Tafadzwa Kusangaya, Muzimba Muhamba and Chikwasha Muhamba to steal shares from the company.
They prepared annual returns dated April 30, 2018 and forged signatures to change the shareholding structure, which made them majority shareholders.
The offence came to light on September 30 when Sibanda was informed by the Department of Parks and Wildlife Management that they had been instructed by Matutu to suspend mining operations.
As a result, Sibanda was prejudiced of US$150 000 and nothing was recovered.
